Biofuel Industry News
Obama calls for more biodiesel and oil alternatives
Mar 20 2013 Comments 0
President Barack Obama has called for greater investment in alternative energy such as biodiesel, in order to ensure drivers are not hit by high oil prices.
The US leader said in his weekly radio address that the car industry in particular must invest more in clean energy and oil alternatives.
President Obama announced an additional $200 million a year would be committed to fund biodiesel and other 'clean fuel' projects.
An Energy Security Trust will be established in order to divert funds from offshore oil and gas research into alternative energy projects.
This is part of the politician's plans to move the US towards energy self-sufficiency.
If car producers were able to incorporate biodiesel and other energy sources into their vehicles, members of the public would also avoid ever-rising oil prices.
"After years of talking about it, we're finally poised to take control of our energy future," President Obama said in his address.
"The only way we're going to break this cycle of spiking gas prices for good is to shift our cars and trucks off of oil for good.
"We can support scientists who are designing new engines that are more energy efficient; developing cheaper batteries that go farther on a single charge; and devising new ways to fuel our cars and trucks with new sources of clean energy – like advanced biofuels and natural gas – so drivers can one day go coast-to-coast without using a drop of oil."
CNN reported that a White House spokesman had defended President Obama's delaying of the approval of the Keystone XL pipeline, which would transport oil from Canada to Texas.
The spokesman said other pipelines that had been built during the president's term of office had not had "a significant impact … on addressing climate change".
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