Making good on his promise to fight climate change more aggressively in his second term, President Obama is unveiling two major initiatives to reduce the U.S.’s reliance on fossil fuels, including a new $2 billion Energy Security Trust to fund the next generation of green vehicles, as well as new reviews of federal projects to assess their climate impacts.
During an appearance at Argonne National Laboratory last week, Obama unveiled details of the proposed energy trust, which would shift $2 billion in royalties from oil and gas operations on federal lands into research into vehicles powered by renewable energy sources. An administration official said the policy will keep the U.S. at the forefront of the emerging green technology sector and will help the nation wean itself off fossil fuels.
Obama is also expected to expand a Nixon-era law to require federal agencies to assess the climate effects of large projects, including pipelines and highways.
Article appearing courtesy Yale Environment 360.