"Here’s the market we’ve got," says Navy Secretary, pleading for biofuels production

July 14, 2011 |

In Washington, Navy Secretary Ray Mabus told Platts Energy Week that every dollar increase in the price of oil costs the military $31 million.
“We use a lot of fuel and we can help get some of these smaller companies and some of these new technologies over the hurdle from being just a good idea to being commercially viable. We’re meeting with venture capitalists, with finance organizations, saying here’s the market we’ve got, here are the types of fuels we need. Bring us the companies that can do it,” he said.

Category: Policy

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