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US To Spend $600 Million Advancing Renewable Fuels
By Mr Ethanol | August 18, 2008
Birmingham Star:
The United States plans to spend $600 million in coming years to propel development of renewable fuels and other new energy solutions.
The funding goes along with millions that private investors are spending to find ways to cut the nation’s dependence on oil.
The future of alternative energy appears to be rich, whether it is the potential of new biofuels, citrus peel or farm waste products to supply new energy sources.
At a recent conference in Florida, green entrepreneurs met with researchers and farmers to plot the industry’s future. Scores of research firms are developing conversion methods to process a variety of raw materials into ethanol. Farmers are finding ways to turn long overlooked products, like livestock manure and non-food crops, into fuel supplies.
Agriculture Secretary Ed Schafer told delegates that green energy is creating great new opportunities for the U.S. economy, especially in the farming sector.
‘There is no turning back from a future in which more of our energy resources are grown and harvested in a sensible way,’ he said. ‘That means agriculture is going to be right in the middle of the game.’
Schafer said, under a newly approved farm bill, officials plan to spend $600 million over the next five years to develop and implement new energy technologies, including biofuel crops. That comes in addition to $35 million already being spent.
Green entrepreneurs say federal support is crucial to propel development of advanced technologies that are needed for new energy solutions. Federal loans also are an important tool to give nascent projects the chance to develop into successful businesses.
Topics: Biofuel, Entrepreneurs, Investing, News |
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