Future
The American Recovery and Reinvestment Act (ARRA) is the largest increase in scientific research funding in US history. Billions of dollars are going into energy research, development and deployment in the present and will continue. U.S. Energy Secretary Steven Chu announced in January 2010 $80 million in government funding for biofuel research and development. The bulk of the funding, went to algae research and development, while the rest went toward ethanol infrastructure.
However, projections for future costs of petroleum are a moving target. DOE expects petroleum costs to remain relatively flat over the next 20 years. Algal biodiesel is expensive in comparison and might not be able to compete with such cheap petroleum prices.
Read more about this topic: Aquatic Species Program
Famous quotes containing the word future:
“The future which we hold in trust for our own children will be shaped by our fairness to other people’s children.”
—Marian Wright Edelman (20th century)
“The planet’s survival has become so uncertain that any effort, any thought that presupposes an assured future amounts to a mad gamble.”
—Elias Canetti (b. 1905)
“There are many of us who cannot but feel dismal about the future of various cultures. Often it is hard not to agree that we are becoming culinary nitwits, dependent upon fast foods and mass kitchens and megavitamins for our basically rotten nourishment.”
—M.F.K. Fisher (1908–1992)