President Obama recently announced a major initiative supporting the advancement of biofuels in the United States. The President stated that the United States Department of Agriculture, Department of Energy, and the Navy will invest around $510 million over the next three years.
The President stated the action would be a major step towards reducing our dependence on foreign oil while increasing jobs in the United States, two contentious issues debated in Washington. The President put the onus on the government and the private sector, making it clear that any success in the creating of next-generation biofuels will require partnerships between the two entities.
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