Obama unveils three energy initiatives

WASHINGTON, May 5 (UPI) -- Three plans supporting sustainable energy options, a working group, stimulus funding and a rule-making notice, were announced by U.S. President Barack Obama.

Obama Tuesday signed a presidential directive establishing the Biofuels Interagency Working Group, which will be jointly chaired by the secretaries of Agriculture and Energy, and the Environmental Protection Agency administrator, the White House said in a release. The panel is tasked with helping revive the slumping biofuels industry and developing policies to improve biofuels' environmental sustainability.

"We must invest in a clean energy economy that will lead to new jobs, new businesses and reduce our dependence on foreign oil," said Obama. "If we are to be a leader in the 21st century global economy, then we must lead the world in clean energy technology. Through American ingenuity and determination, we can and will succeed."

Obama said $786.5 million from the American Recovery and Reinvestment Act will be provided to help hasten advanced biofuels research and development, as well as expand its commercialization by allocating funds for commercial biorefineries. These efforts will be overseen by the Energy Department.

The Recovery Act funding will go toward new funding opportunities and existing projects, the president said.

Obama also announced the EPA's proposed rulemaking notice on the Renewable Fuel Standard. The proposal outlines the agency's strategy for increasing the supply of renewable fuels, scheduled to reach 36 billion gallons by 2022 under the Energy Independence and Security Act of 2007. The 60-day public comment period begins when the notice is published in the Federal Register.