Proposition: By driving the development of domestic sources of biofuels at a mass scale, the Government can:
-Save the country billions of dollars
-Help drive down our trade deficit
-Reduce carbon emissions, and
-Keep our military men and women safe
We propose that DOE and DOD work together to purchase biorefinery capabilities across the country.
Let us tell you how this could work...
Current State: We import 63% of our petroleum from overseas. The DOD's largest energy consumer is petroleum derived aviation fuel - approximately 50% of total consumption. Each year, the Government sends billions of dollars overseas to meet this need.
If the DOD consumed 117 million barrels of petroleum in 2006, 74 million could have come from overseas. That's approximately $5.3B.
Displacing that with domestic biofuels would reduce our current trade deficit from -$42.3B to $37B ---- 13%.
Investing those funds in domestic biofuels supply would keep that money here. If $5.3B was spent domestically (the approximate amount sent overseas in 2006 for oil), $2.1B would be returned to the Government as tax (@40%), and $3.2B would remain in the economy for the community to spend.
Already, DOE has been building biorefinery capacity through Recovery Act funds. Using DOE and DOD expertise, we can further develop this capacity to meet the DOD and our nation's needs, and we could easily start with aviation fuel, as demonstrated by the Green Hornet Project.
All the while, we will be meeting our country's goals to secure our energy future and protect our environment.
We welcome the opportunity to discuss this idea further.
Keddy and Ben