Plans in Congress to kill military biofuels programs could derail $10 billion+ in economic activity

November 14, 2012 |

In Washington, the US military’s plans to expand its use of biofuels in planes, ships and other vehicles would generate at least about $10 billion in economic activity and create more than 14,000 jobs by 2020, according to a report commissioned by Environmental Entrepreneurs. The report projected that between $9.6 billion and $19.8 billion of economic activity could be generated by 2020 if the DoD is allowed to meet its previously announced biofuel goals. The report also found that in order to meet the military’s cost and volume targets, advanced biofuel companies are leveraging $3.4 billion of private capital invested since 2007 to build new commercial facilities.

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Category: Producer News

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