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Investor Interest in U.S. Biofuel Production Set to Soar: OilPrice.Com

John Daly from Oilprice.com has published an article about President Obama’s August 16 announcement that The U.S. Departments of Agriculture, Energy and Navy will partner with the private sector and invest $510 million to produce advanced “drop-in” aviation and maritime biofuels for commercial and military use.

The article explains that: “While it remains to be seen how the joint investments between the U.S. government and private sector will work in practice, the announcement nevertheless represents an unprecedented commitment by several federal departments to stimulate the production of renewable biofuel energy, which is a godsend for many start-up companies which have up to now found it difficult to locate capital to ramp up production.”

‘Investor Interest in U.S. Biofuel Production Set to Soar’ was also republished by Proactive Investors under the headline: ‘U.S. biofuel initiatives to ignite investor interest’.

“We need to use algae” – U.S. Secretary of Agriculture: Algae Industry Magazine

Algae Industry Magazine has posted a video of U.S. Secretary of Agriculture Tom Vilsack discussing next generation biofuels.

Vilsack explains some of the reasons behind the agreement between the U.S. Department of Agriculture, Department of Energy and the Navy. The agreement will increase mutual support in developing next generation biofuels.

The Secretary discusses the 1 million jobs which will be created as a result of the “$100 billion of investments in capital, in new facilities, new bio-refineries”.

He continues that “we’ve got to figure out alternative and different ways to be able to produce bio fuels. We need to use algae.”

Watch the U.S. Secretary of Agriculture Tom Vilsack speak on the Algae Industry Magazine website.

 

US Government to invest $150 million in advanced biofuels

As part of their efforts to reduce reliance on foreign oils and ensure a secure energy future, the US Government has announced that the Departments of Agriculture, Energy and Navy will invest up to $510 million in advanced, drop-in biofuels.

The government will partner with the private sector to “produce advanced drop-in aviation and marine biofuels to power military and commercial transportation”, according to Biofuels Digest.

The article by Jim lane quotes President Obama, “Biofuels are an important part of reducing America’s dependence on foreign oil and creating jobs here at home. But supporting biofuels cannot be the role of government alone. That’s why we’re partnering with the private sector to speed development of next-generation biofuels that will help us continue to take steps towards energy independence and strengthen communities across our country.”

The full article, ‘US Government to invest $510M in advanced, drop-in biofuels’ by Jim Lane can be read online at Biofuels Digest.