ray mabus

Cross posted from the White House blog:

Yesterday, President Obama announced that our Departments will jointly invest $510 million over the next three years to develop the domestic capacity for advanced biofuels.  The funds will be leveraged with at least a one-to-one private industry match to construct or retrofit advanced biofuel plants to produce drop-in aviation and marine biofuels that will power our military’s ships and aircraft and our commercial transportation fleet.  For the first time, our Departments’ efforts have been put behind a single project to help create the new energy future and new energy economy set out in the President’s Blueprint for a Secure Energy Future (pdf) issued this March.

Hawaii and the Pacific Basin

The dwindling global supply of fossil fuels and the resulting escalation in prices has set the stage for entry of commercial biofuel produced from biomass, including co-products and bi-products.  This transition in the energy sector’s feed stocks offers Hawaii a unique opportunity to locally produce biofuel from locally produced biomass feed stocks, and ultimately support the stabilization of the state’s energy resources; increase the local circulation of energy dollars; and further under gird Hawaii’s agricultural industry. 

Agriculture Secretary Tom Vilsack joined Secretary of the Navy Ray Mabus at the Pentagon this morning to sign a key Memorandum of Understanding (MOU) to encourage the development of advanced biofuels and other renewable energy systems.