Monday, May 11, 2009

President Requests $882 Million for Fossil Energy Programs

President Obama’s FY 2010 budget seeks $881.6 million for the Office of Fossil Energy (FE) to support improved energy security and rapid development of climate-oriented technology. The request includes $617.6 million for Fossil Energy Research and Development, $229.0 million for the Strategic Petroleum Reserve, $11.3 million for the Northeast Heating Oil Reserve and $23.6 million for the Naval Petroleum Reserves.

Go to FY 2010 Fossil Energy Budget Chart

Additionally, the FE R&D program will be complemented by $3.4 billion from the American Recovery and Reinvestment Act of 2009. These funds will be used to advance research, development and deployment of carbon capture and storage technologies.

The Office of Fossil Energy’s programs support the President’s top initiatives for climate change mitigation, advanced coal research, and energy security. Specifically, the Office of Fossil Energy will:

Partner with industry and others to advance efficient and near-zero emissions fossil energy technologies for widespread deployment and commercialization;
Manage and carry out research that reduces market barriers to the reliable, efficient, and environmentally sound use of fossil fuels for power generation and conversion to other fuels, including hydrogen; and
Maintain the strength and viability of U.S. petroleum reserves – in particular, the Strategic Petroleum Reserve – to provide energy security in the event of a severe supply disruption.

[DOE - Fossil Energy]

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