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:
“In no nation are the institutions of progress more advanced. In no nation are the fruits of accomplishment more secure. In no nation is the government more worthy of respect. No country is more loved by its people. I have an abiding faith in their capacity, integrity and high purpose. I have no fears for the future of our country. It is bright with hope.”
—Herbert Hoover (1874–1964)
“The future of humanity is uncertain, even in the most prosperous countries, and the quality of life deteriorates; and yet I believe that what is being discovered about the infinitely large and infinitely small is sufficient to absolve this end of the century and millennium. What a very few are acquiring in knowledge of the physical world will perhaps cause this period not to be judged as a pure return of barbarism.”
—Primo Levi (1919–1987)
“The circuited city of the future will not be the huge hunk of concentrated real estate created by the railway. It will take on a totally new meaning under conditions of very rapid movement. It will be an information megalopolis.”
—Marshall McLuhan (1911–1980)