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SENATE SUPPORTS AMERICAN MILITARY, BUSINESS WITH BIOFUEL VOTE

E2: With clear signal from Washington, growth in biofuel industry can continue

Category: Investment, Renewable Energy

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WASHINGTON - November 28, 2012 (Investorideas.com renewable energy newswire) On Wednesday, the Senate showed there is strong bipartisan support for initiatives by the Department of Defense to diversify its fuel sources and decrease its dependence on oil - initiatives that could help the private sector as well.

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By a margin of 62 to 37, the Senate voted against a proposal in the National Defense Authorization Act that would have prevented the military from buying biofuel to meet its energy needs.

After the vote, Environmental Entrepreneurs co-founder Nicole Lederer made the following statement:

"The Senate rightly stood behind America's military with this vote, but it also stood behind American businesses.

"From commercial aviation to the Internet, the military has historically led some of our nation's greatest economic transformations - and the military's leadership on biofuels is no different. Military programs are already driving innovation, private-sector investment and job creation in the biofuel industry. Now that the market has a clear signal from Washington, that growth can continue."

According to a recent E2 report, more than 14,000 jobs and $10 billion-plus in economic activity could be created if the military meets its previously announced biofuels goals. The Air Force and the Navy - two of the biggest users of oil in the world - want to get 50 percent of their fuel from biofuels by 2020.

Retired Marine Corps Lt. Gen. John Castellaw, an E2 member and president of the Crockett Policy Institute, said:

"The military has been on the forefront of energy innovation for 150 years. Biofuels are just the next stage of innovation that will help our military's energy security future, help improve the effectiveness of our military operations and help improve our economy."

For more details on the potential economic impacts of the military's biofuel programs, see E2's reports here

And for more details on the military's clean energy initiatives, see here

ABOUT E2

Environmental Entrepreneurs (E2) is the independent business voice for the environment. E2 is a national community of individual business leaders who advocate for good environmental policy while building economic prosperity. Learn more at: www.E2.org

CONTACT:

Bob Keefe at 202-289-2373 or bkeefe@e2.org or Patrick Mitchell at 703-276-3266 or pmitchell@hastingsgroup.com.

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