Obama’s Oil and Gas Plan to Fund $2 Billion Clean Fuel Research

Mike O'Brien
Posted: 03/15/2013

A plan to shift $2 billion in revenue from federal oil and gas leases to pay for research on cleaner fuel vehicles will be unveiled today by President Obama.

On a visit to Argonne National Laboratory near Chicago, he will spell out how he believes the U.S. can pay for the replacement of hydrocarbons in vehicles over the next 10 years.

Mr. Obama first mentioned the idea in his State of the Union address last month, but it is sure to incur the wrath of some Republicans who view it as a tax on energy producers.

Mike O'Brien
Posted: 03/15/2013