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Obama’s budget focuses on renewable energy

Obama’s budget focuses on renewable energy Tom LoBianco THE WASHINGTON TIMES February 27, 2009 President Obama’s first budget includes $15 billion a year for renewable energy programs and an ambitious plan to raise $656 billion from a carbon reduction proposal.

“Because our future depends on our ability to break free from oil that’s controlled by foreign dictators, we need to make clean, renewable energy the profitable kind of energy,” Mr. Obama said Thursday.

The plan uses money from a cap-and-trade program – which would allow companies to emit carbon dioxide up to a certain level, and then charge them $20 per ton of gasses emitted above that cap – would pay for Mr. Obama’s middle-class tax cuts and investments in renewable energy.

Washington Times – Obama’s budget focuses on renewable energy

February 27, 2009 - Posted by Christina Macpherson | ENERGY, USA