Obama Calls For $2 Billion Green Energy Fund
During a visit to Argonne National Laboratory, Obama will call for a $2 billion "energy security trust fund" to be used for researching ways to improve automobile efficiency and develop new clean energy technologies.
In his weekly speech at the White House, Barack Obama said that shifting the US' automotive industry off oil will help avoid new peaks in gasoline prices.
"Let's take some of our oil and gas revenues from public lands and put it towards research that will benefit the public so we can support American ingenuity without adding a dime to our deficit," Obama said. "Let's set up an Energy Security Trust that helps us free our families and our businesses from painful spikes in gas once and for all."
While Congress is a very long way from approving this plan (Obama's last year request for $650 million in battery and vehicle research was eventually halved), some Democratic Party members praised the proposal, claiming it will "help break dependence on foreign fossil fuels and create thousands of good-paying, middle-class American jobs".
Story via DetroitNews