The U.S. government today announced its latest effort to spur the development of biofuels through a $62 million investment.
The Obama administration said a key part of the spending was $30 million in federal funding being made available to quicken the development of biofuels to replace diesel and jet fuel consumed by the military and the commercial aviation and shipping sectors.
The White House promoted the investment as the latest step by the administration to reduce the country's dependence on foreign oil and spur the development of biofuels in the United States—all of which amounts to a financial boon to states such as Iowa by creating jobs and boosting demand for crops. U.S. Agriculture Secretary Tom Vilsack called the funding announcement a "very positive step forward" for rural America.
"This is a matter of national security. It's a matter of energy security but it's also good news for rural America," said Vilsack. "It opens up great promise for the development of non-food feedstocks as a potential cash crop for farmers, ranchers and producers throughout the United States. The refineries that will be converting this biomass ultimately into fuel will likely be located in rural areas, helping to create jobs."
President Barack Obama announced last August that the U.S. departments of Agriculture and Energy and the Navy will invest up to $510 million during the next three years to produce advanced drop-in aviation and marine biofuels to power military and commercial transportation. The $30 million was part of this commitment. . .View Full Article