The president’s budget to be released today would double funding for clean energy research and development by 2020, according to President Obama’s weekly address made on Saturday.
“This will include new investments to help the private sector create more jobs faster, lower the cost of clean energy faster, and help clean, renewable power outcompete dirty fuels in every state,” said Obama. “And while Republicans in Congress are still considering their position on climate change, many of them realize that clean energy is an incredible source of good-paying jobs for their constituents. That’s why we were able to boost clean energy research and development in last year’s budget agreement. And I hope they support my plan to double that kind of investment.”
The president also plans on proposing a $10-a-barrel tax on oil to fund clean energy initiatives.