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:
“Bobby read his future in women; his girls were omens, changes in the weather, and he’d sit all night in the Gentleman Loser waiting for the season to lay a new face down in front of him like a card.”
—William Gibson (b. 1948)
“Thou, too, sail on, O Ship of State!
Sail on, O Union, strong and great!
Humanity with all its fears,
With all the hopes of future years,
Is hanging breathless on thy fate!”
—Henry Wadsworth Longfellow (1807–1882)
“Higher than the question of our duration is the question of our deserving. Immortality will come to such as are fit for it, and he would be a great soul in future must be a great soul now.”
—Ralph Waldo Emerson (1803–1882)