President Barack Obama got his tour on at the Argonne National Laboratory outside Chicago on Friday and announced his plans for an “Energy Security Trust” to further clean energy research and development in the U.S.
The trust, which will be funded by federal royalties from offshore oil and gas drilling and will not add to the budget deficit, will provide $2 billion in research over the next 10 years and according to the White House, it will advance research into technologies like electric vehicle batteries, biofuels and hydrogen fuel cells.
The president argued:
“We have to keep investing in scientific research. We cant afford to miss these opportunities while the rest of the world races forward,”
Obama’s plan will also funds natural gas research, going along with POTUS’ forthright support of an “all of the above” energy strategy and “responsibly tapping” U.S. natural gas reserves.
According to Huffington Post:
The president’s “Blueprint for a Clean and Secure Energy Future” advocates for “accelerating the growth” of natural gas in the transportation sector. Although increased utilization of natural gas is partially responsible for a decline in U.S. carbon dioxide emissions, significant leakage of methane — a shorter-lived but more potent greenhouse gas than CO2 — may negate environmental benefits over coal.
According to Bloomberg, the president is also thinking of using a Nixon-era law to instruct all federal agencies to consider the impact of climate change when approving “major projects, from pipelines to highways.”
It should be interesting to see what progress Obama’s plan makes. We hope it’s impactful! Check out POTUS’ discusses his new move in the video above!
SOURCE: Huffington Post