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White House Energy and Environment Budget Update

energybudget.JPG On Monday February 14th, President Obama announced the Administration's energy plan and budget for the FY 2012. Piggybacking off the Recovery Act, the Administration's goal is to build a new clean energy economy based on energy resources in the United States because the nation that harnesses the power of clean, renewable energy will be the nation that leads the 21st century. This ambitious goal will significantly reduce the country's dependence on oil, particularly from foreign suppliers, while also supporting job growth, environmental protection, and fiscal health. The 2012 energy budget supports the goals of doubling the share of clean energy electricity in 25 years, putting one million electric vehicles on the road by 2015, and reducing buildings' energy use by 20 percent by 2020; this includes over $90 billion in clean energy investments and the elimination of 12 tax breaks to oil, gas, and coal. These goals will be paid in part by the proposed repeal of over $4 billion per year in fossil fuel subsidies. The budget also seeks to implement new market-based clean energy incentives in the private and public sector to further establish the United States as the leader in clean energy innovation. For more detailed information about the Obama Administration's energy budget plan click on the link below

FY2012 Clean Energy Funding[1].pdf.