March 2, 2009

Green economy on the budget

I've been trying to avoid politics as I'm getting tired of hearing about bailouts, stimulus package and White House budget on all newspapers, internet, TV, radio, etc.

But that's just me.

For work-related purposes, here's what's going on in Washington that will affect the clean technology industry and maybe even green chemistry R&D within the next several years.

In President Obama's proposed budget that came out last week, he promised to increase funding on renewable energy projects, some, in the expense of greenhouse gas emitters, oil companies and toxic chemical spillers. Specific details were not put out yet until the president's final proposal in April.

Under the Department of Energy's proposed budget, funding will increased on renewable energy production primarily from tax breaks and loan guarantees. The budget also increases funding for energy conservation in government buildings and private homes as well as provide more money for cleaner coal-fired power plants, and to transform the country's aging electric grid.

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