USDA: $50 mln for biofuels
US Agriculture Secretary Tom Vilsack has announced that the USDA is accepting applications for up to $50 mln in projects to promote the continued production and use of biofuels.
"Using homegrown energy to end our dependence on foreign oil is a key component of President Obama’s vision for rebuilding and revitalising rural America, and this funding will help advance that goal," said Vilsack. "USDA continues to work aggressively to provide our nation’s rural communities, farmers, ranchers, and producers of biofuels with the financial tools they can use to help bring greater energy independence to America."
USDA is working with other Federal agencies to reduce our dependence on foreign oil and spur rural economic development. This $50 mln in 2008 Farm Bill money will advance 2 USDA efforts: $20 mln under to provide financial incentives to biorefineries to replace fossil fuels used to produce heat or power at their facilities with renewable biomass; and $30 mln to provide payments to eligible advanced biofuel producers to encourage the increased production and use of biofuels.
These projects are expected to help biorefineries reduce energy costs and consumption; necessary steps toward meeting our nation’s critical energy needs. Advancing the biofuel industry can lead to cleaner and more sustainable energy production as well as creating jobs, generating government revenue, and stimulating rural economies across the nation.
Source: USDA
