Obama budget would boost funding for renewables, cut oil subsidies

02/13/2012 | Sun (Baltimore), The · FuelFix.com · Hill, The · Bloomberg

President Barack Obama's proposed budget for fiscal 2013 would boost spending for renewable-energy programs while rolling back tax credits worth $40 billion for oil and natural gas companies. Obama's proposal includes $27.2 billion for the Department of Energy, up 3.2% from what Congress allocated last year. The Energy Department's budget would include $2.3 billion for research and development in biofuels, advanced vehicles and energy efficiency.

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Sun (Baltimore), The · FuelFix.com · Hill, The · Bloomberg

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