Administration Pushes Biofuels Production

President Barack Obama announced a plan last week in which the Departments of Agriculture, Energy, and Navy would invest a total of up to $510 million over three years to spur production of aviation and marine biofuels for commercial and military applications. Private industry would be expected to at least match the federal government total. The departments would lead an effort to construct or retrofit several biofuel plants and refineries in order to “address energy security and national security challenges and provide economic opportunities in rural America,” according to an Administration statement. The announcement was made as the President toured the Midwest’s Farm Belt cities. The expectation, according to the statement, is that USDA and DOE will provide practical experience and advanced technologies and the Navy will provide a marketplace to sell this biofuel and ensure a quick return on public and private investments.