Obama Pushes To Use $2B In Oil Cash For Renewable Energy

Law360, New York (February 13, 2013, 5:58 PM EST) -- President Barack Obama is urging Congress to funnel $2 billion in federal oil and gas revenue into a trust for renewable energy projects aimed at reducing greenhouse gas pollution from motor vehicles, a White House official confirmed Wednesday.

Claiming that the proposal will help the U.S. shift to cleaner fuel alternatives, the president wants lawmakers to create an energy security trust with funds from oil and gas development on federal lands and offshore by setting aside $200 million per year over the next decade for research...
To view the full article, register now.