Obama Wants 36 Billion Gallons of Biofuels, Ethanol per Year by 2022

February 4, 2010 /EIN PRESSWIRE/ Outlining his alternative energy proposals, President Barack Obama wants the US to produce 36 billion gallons of ethanol and other biofuels per year by 2022.

The 36 billion gallons comes from a mandate in an existing 2007 energy bill, but currently the US produces only 12 billion gallons of biofuels and has no capacity to triple production. The EPA says that meeting this 2022 standard would reduce oil use by 328 million barrels a year.

This increase in biofuel production could be a boon for the biofuel industry, but industry representatives are concerned about whether the government has the money and willingness to support building the plants and pipelines needed to take biofuels to the next level.

Read more about this story at Biofuel Industry Today:

Latest Washington D.C. Biofuels news – http://biofuels.einnews.com/washingtondc/
Latest Biofuel news – http://biofuels.einnews.com/news/biofuel-biofuels-energy
Latest Ethanol news – http://biofuels.einnews.com/news/ethanol-biofuel

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