Navy Gives Another Push for Biofuels
On 16 August 2011, the US President Obama announced that the Departments of Agriculture, Energy and Navy will invest up to $510 million during the next three years in partnership with the private sector to scale up the industry for next-generation biofuels by producing advanced drop-in aviation and marine biofuels to power military and commercial transportation. Back in June 2011, the secretaries of the three Departments mentioned above had signed a memorandum of understanding for that.
President Obama and the Department secretaries proclaimed once again that biofuels are an important part of reducing America’s dependence on foreign oil and it will pave the way to energy independence. As usual, no mention about the costs to tax payers due to generous subsidies.
In any case, this announcement will make the biofuel industry very happy. The remarks made by Michael McAdams, president of the Advanced Biofuels Association (ABFA) make this clear: “No waiting for the day when costly changes are made on car assembly lines or gas stations… The Administration's investment in commercializing advanced biofuels is a matter of national security. … our nation's defense is at the mercy of the market just as much as we are when we pull up to the gas station."