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Obama Proposes Advanced-Vehicle Fund
In last night's State of the Union speech, President Barack Obama proposed an Energy Security Trust to support R&D for vehicles that run on biofuels, electricity or natural gas.
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In last night's State of the Union speech, President Barack Obama proposed an Energy Security Trust to support R&D for vehicles that run on biofuels, electricity or natural gas.
He provided few details but said revenue from oil and gas drilling would fund the trust. He said one project might be to study materials that could boost the power of batteries used in electric vehicles and hybrids.
It isn't clear if the proposed program would replace the one financed by the Dept. of Energy, which has been criticized for bankrolling startup companies that later failed.
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