Budget: EnergyFebruary 16, 2011
In its 2012 budget proposal, the Obama Administration sought $8 billion in funding for clean energy initiatives, including spending to expand wind and solar power, boost the development of electric cars and the necessary infrastructure, expand clean-energy manufacturing, and the development of nuclear reactors. It is highly unlikely, however, that the current Congress will support this spending initiative.
The U.S. Department of Energy (DOE) budget proposal also calls for cuts of 41 percent—or almost $70 million—to the Office of Energy Efficiency and Renewable Energy, 45 percent—or $418 million—to the Office of Fossil Energy,
The Obama Administration also proposes, as it did in each of its two previous budget proposals, cutting $3.6 billion worth of oil and gas subsidies. As in the past, the outlook for this proposition is doubtful.
Please click here for a broad overview of the President’s budget.