President Obama recently announced the United States will invest in Biofuel to the value of $510 million by 2014, following up on the directive issued five months ago as part of his “Blueprint for a Secure Energy Future,” which will reach $300 billion. All plans envisage what experts are calling the renewables era.
Job creation and better health is what experts report are the main drivers behind the development and world-wide support of the development of clean, renewable energy.
President Obama recently said:
“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.”
Areas are set to reclaim global leadership in areas where renewables are pioneered, such as solar power. A national energy policy that encourages businesses to invest in areas of renewables is needed to prevent federal regulators of residential and commercial mortgages from interfering with state and local assessed clean-energy laws.
Tom Vilsack, Secretary of Agriculture announced:
“Our goal is to create and stabilise an advanced biofuels industry. This is not a fly by night effort — it’s a commitment to a real energy future. The president has asked us to make the US more competitive, and to give us real diversification in our energy choices.”
Secretary of the Navy Mabus added:
“We simply buy too much fuel from out of the country. The supply shocks, the price shocks, it’s simply unacceptable to the military. For every dollar increase in the cost of a barrel of oil, it costs the Navy $30 million.”
It is undoubtedly a time to invest in renewables and biofuels in particular; and smart investors will be watching the expansions closely.