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Good morning,
Wanted to make sure you saw the editorial below that ran today in the Milwaukee Journal Sentinel about the August 16th announcement that the U.S. Departments of Agriculture, Energy and Navy will invest up to $510 million during the next three years in partnership with the private sector to produce advanced drop-in aviation and marine biofuels to power military and commercial transportation. Read more.
Money well spent
Milwaukee Journal Sentinel
http://www.jsonline.com/news/opinion/128041498.html
The government decision to invest more than $500 million over the next three years in biofuels is sensible and could jump-start a domestic industry.
The federal government will invest $510 million over the next three years to produce biofuels for planes and ships as part of a joint project between the departments of Agriculture, Energy and Navy. It's a good move that could jump-start development of commercially viable biorefineries.
The Obama administration said this week that private sector companies would compete for funding and be required to match every federal dollar spent. That could make the ultimate investment more like $1 billion.
And it could be a boost for at least one Wisconsin company.
Virent Energy Systems recently won a federal Energy Department grant to develop a renewable jet fuel from sugars that are derived from plants that aren't part of the food system. Virent is a leader in researching alternatives to corn-based biofuel, which has been justifiably criticized for its distorting effect on food prices. Virent has been producing jet fuels from conventional sugars for several years in Madison.
The federal initiative also could create new jobs in hard-hit rural areas of the country. That is one of the goals, along with reducing the military's reliance on fossil fuels and helping to create a viable biofuels industry in the country, according to administration officials.
"By building a national biofuels industry, we are creating construction jobs, refinery jobs and economic opportunity in rural communities throughout the country," Agriculture Secretary Tom Vilsack said. "As importantly, every gallon of biofuel consumed near where it is produced cuts transportation costs and, for the military, improves energy security."
He's right. This is an investment in America's energy future that is well spent and could have far-reaching consequences for Wisconsin.
