Obama Wants to See Oil and Gas Revenue Fund Advanced Vehicle Technologies


Pres­i­dent Oba­ma has urged Con­gress to estab­lish an “ener­gy secu­ri­ty trust” that would spend fed­er­al rev­enue from oil and gas pro­duc­tion on research in low-car­bon trans­porta­tion tech­nolo­gies, The Oba­ma admin­is­tra­tion hopes the idea will receive bipar­ti­san back­ing on Capi­tol Hill.

The plan would pro­vide $2 bil­lion over the next 10 years for research in advanced vehi­cle tech­nol­o­gy, includ­ing cars pow­ered by elec­tric­i­ty, home­grown bio­fu­els, bio­cells and domes­tic nat­ur­al gas. Obama’s announce­ment was tied into his tour of the Argonne Nation­al Lab­o­ra­to­ry in the Chica­go area, where researchers are devel­op­ing advanced auto­mo­biles and bat­ter­ies. The lab has been work­ing on advanced car bat­ter­ies since the 1990s.

Oba­ma faces a real chal­lenge per­suad­ing the House and Sen­ate to put more mon­ey into vehi­cle research. Dis­ap­point­ing sales of elec­tric vehi­cles has been the source of some of the crit­i­cism. To try to win sup­port, Oba­ma has broad­ened his pro­pos­als to include vehi­cles that run on nat­ur­al gas to win sup­port on Capi­tol Hill.



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