Obama eyes oil revenues for clean energy
The US president plans to earmark $2 billion of oil and gas revenues to fund alternative energy research, writes Shaun Polczer
EARLY outlines of US president Barack Obama's all-of-the-above
energy policy are taking shape, with plans to earmark $2
billion of oil and gas revenues to fund alternative energy
In a speech at the Department of Energy's Argonne National
Laboratory in Illinois, president Obama proposed setting aside
$200 million a year for the next 10 years to promote biofuels,
fuel cells and advanced electric vehicles (EVs).
The new research programme would be paid for with royalties
generated from offshore oil and gas production in federal
Fossil fuels are...