FALL 2011
“Committed to Innovation and Community”
US Government to invest $510M in advanced, drop-in biofuels
In Washington, President Obama today announced 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. The initiative responds to a directive from President Obama issued in March as part of his Blueprint for A Secure Energy Future, the Administration’s framework for reducing (Article continued on page 7)
VOLUME 1, NUMBER 3
Our Focus WELCOME, in response to the global economic crisis many developed nations such as Germany, France and Italy have embarked on a new era of austerity. Given the current political landscape in Washington, all signs indicate that our nation will follow suit. On the chopping block are many domestic programs such as entitlements and defense. Also under consideration are the various clean energy programs that have been or were anticipated to be used by our nation’s growing clean energy industry. Given the $528 million loan to now defunct Solyndra, it appears that new energy companies will be subjected to more stringent criteria by the government in order to receive needed financial assistance. Congress should keep in mind that the development of new technology has inherit risks. Such risks can be mitigated with sound financial due diligence of projects. Hopefully, there will be no more Solyndras. However, we must forge ahead with our eyes focused on the ultimate prize which is to become the world leader in the New Energy Economy. Regards,
Pete Reeves V.P. Government Affairs 1