WASHINGTON, Aug. 16, 2011/PRNewswire-USNewswire/ -- The following remarks were made by Michael McAdams, president of the Advanced Biofuels Association (ABFA), after this morning's announcement by the Obama administration that the U.S. Departments of Agriculture, Energy and Navy will invest up to $510 million during the next three years to produce advanced drop-in aviation and marine biofuels to power military and commercial transportation.
"The Obama Administration should be commended for demonstrating great foresight as it continues to make smarter investments in drop-in advanced biofuels, investments that will ultimately strengthen America's economic and national security. Advanced biofuels will deliver ready to use replacement fuels for jetfighters, battleships, as well as commercial airliners and cars on the road today. No waiting for the day when costly changes are made on car assembly lines or gas stations."
"The Administration's investment in commercializing advanced biofuels is a matter of national security. Here are the facts. The U.S. Defense Department is a one of the world's largest consumers of fuel, representing close to 2 percent of annual U.S. petroleum use. In 2008, DOD purchased $16 billion worth of fuel, using 119 million barrels of petroleum. Together, with the private commercial airline industry, DOD uses 1.5 million barrels (63 million gallons) of jet fuel per day. Armed with just these few facts, you can see that our nation's defense is at the mercy of the market just as much as we are when we pull up to the gas station."
"As we see new biorefineries going online it is essential that Washington continue to recognize not only the need, but also the promise and desire to see advanced and cellulosic replacement fuels come to the market."
ABOUT ABFA: The member companies of The Advanced Biofuels Association (ABFA) represent the new generation of advanced and renewable technologies that will help drive America's new economy by creating jobs, reducing our dependence on foreign oil and fueling a sustainable future for the world.
The ABFA engages the federal government at all levels to secure a level playing field for its member companies by encouraging public policies that are consistent, technology neutral, utilize sustainable feedstocks and offer subsidy parity.
SOURCE Advanced Biofuels Association