Obama announces major investment in military and commercial biofuels

The development of advanced drop-in biofuels will soon be underway as the US Department of Agriculture (USDA), Energy (DoE) and Navy will invest up to $510 million (€354 million) into the development of advanced drop-in biofuels. US President Barack Obama made the announcement on 16 August.

The investment will be made over a three-year period and will go towards the production of advanced drop-in aviation and marine biofuels that will power transport for the military and commercial sectors.

The news follows Obama's 'Blueprint for A Secure Energy Future', which was released in March 2011 and calls for a reduction on the dependence of imported oil.

'Biofuels are an important part of reducing America's dependence on foreign oil and creating jobs here at home,' says Obama. 'But supporting biofuels cannot be the role of government alone. That is 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.'

In order to increase the production of bio-jet and diesel fuel for both military and commercial applications, Secretary of Agriculture Tom Vilsack, Secretary of Energy Steven Chu and Secretary of the Navy Ray Mabus have developed a plan to build and retrofit drop-in biofuel plants and refineries.

'By building a national biofuels industry, we are creating construction jobs, refinery jobs and economic opportunity in rural communities throughout the country,' says Agriculture Secretary Vilsack. 'As importantly, every gallon of biofuel consumed near where it is produced cuts transportation costs and, for the military, improves energy security.'

The new initiative will dramatically slash the current $300 billion each year spent to import crude oil to the US. In addition to producing a domestic supply of renewable fuels, the plan also improves the nation's energy and national security.