Salute: President Obama to Put $2B Towards Clean Energy Research

Strategy includes support for nonpolluting sources

On Friday, President Obama will propose diverting $2 billion in revenue from federal oil and gas leases to financing research on clean energy. The idea to use oil and gas money to find ways to replace hydrocarbons as the primary fuel for the nation’s cars was first mentioned in his State of the Union address last month. The White House says the money will come from growth in drilling revenue from leases on public lands and waters over the next decade and is not a new tax. Mr. Obama will present the proposal as part of his “all-of-the-above energy strategy,” which includes support for nonpolluting sources like wind, solar and geothermal energy; loan guarantees for new nuclear plants; and research into long-term alternatives to fossil fuels. (NY Times)

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