Manhattan Project for energy innovation
Date: Friday, June 23, 2006 @ 23:40:51 UTC
Topic: Legal
Schumer wants 'Manhattan Project' for energy innovation
The Business Review (Albany) - 9:57 AM EDT Friday by Richard A. D'Errico
Sen. Charles Schumer (D-NY) wants to create a new federal agency to promote innovation in the development of alternative energy.
Schumer says his plan is a bold one that would "break the nation's dependence on foreign oil." He plans on providing details on the plan Friday at the state University of Albany's College of Nanoscale Science and Engineering.
Schumer said his plan would devote billions of dollars to new energy research and development. It would be administered by a completely new independent agency called the National Energy Efficiency Development Administration (NEEDA). The mission of the project would be to reduce imports of foreign oil by 5 percent in 2008, 20 percent in 2011, and 50 percent by 2015. NEEDA would receive $80 billion over 10 years, with money coming from scaling back incentives already going to oil companies...
Read the whole story here: http://www.bizjournals.com/albany/stories/2006/06/19/daily51.html
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