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White House Wants $2 Billion to Give Cleaner Transport a Boost

Feb 14, 2013
(Reuters)

President Barack Obama wants Congress to create a $2 billion clean-energy transportation fund using fees paid by oil and gas producers on federal lands, the White House said Wednesday, expanding a plan announced in Obama's State of the Union address.

"This $2 billion investment will support research into a range of cost-effective technologies - like advanced vehicles that run on electricity, homegrown biofuels and domestically produced natural gas - (and) will be funded by revenue generated from federal oil and gas development," according to a White House outline of the initiative.

The size of the fund pales in comparison to a similar initiative Obama backed in his first term, though.