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:
“At sixty, I would like to give my future back its vistas of uncertainty.”
—Mason Cooley (b. 1927)
“The moments of the past do not remain still; they retain in our memory the motion which drew them towards the future, towards a future which has itself become the past, and draw us on in their train.”
—Marcel Proust (1871–1922)
“We live in an age when to be young and to be indifferent can be no longer synonymous. We must prepare for the coming hour. The claims of the Future are represented by suffering millions; and the Youth of a Nation are the trustees of Posterity.”
—Benjamin Disraeli (1804–1881)