President Obama, (See Video Here) while touring the Argonne National Laboratory outside Chicago on Friday, introduced his plan for an Energy Security Trust to accelerate the development of alternative fuels for transportation. The objective is to reduce the impact on America's families and the economy from high priced and volatile oil. The plan is designed to be revenue neutral, drawing upon $2 billion of oil and gas offshore gas and oil drilling royalties over ten years, to fund technologies including advanced batteries, biofuels, natural gas fuel tanks, hydrogen fuel cells.
"Over 10 years, the Energy Security Trust will provide $2 billion for critical, cutting-edge research focused on developing cost-effective transportation alternatives.The funding will be provided by revenues from federal oil and gas development, and will not add any additional costs to the federal budget. The investments will support research into a range of technologies – things like advanced vehicles that run on electricity, homegrown biofuels, and domestically produced natural gas. It will also help fund a small number of real-world experiments that try different transportation techniques in cities and towns around the country using advanced vehicles at scale."
No comments:
Post a Comment