Bush wants $ 2.7 bn in 2008 budget for energy

Washington, Feb 11: President George W Bush has sought 2.7 billion dollars in the 2008 fiscal budget and 10 billion dollars over the next five years for alternative energy research as part of his proposal to reduce US gasoline usage by 20 per cent by 2017.

In his weekly radio address yesterday, Mr Bush said the proposed funding would constitute a 53 per cent increase over the 2006 funding level and would expand research on fuel sources such as ethanol, biodiesel, lithium-ion batteries and hydrogen fuel cells.

In his January 23 State of the Union address, Mr Bush proposed his ''Twenty in Ten'' plan on energy to reduce US gasoline usage and mandate the use of 132 billion litres of renewable and other alternative fuels by 2017.

The president said he was optimistic about his energy proposal ''because the technology we need to achieve this goal is advancing every day.'' The president's plan also calls for reformed fuel economy standards to increase the efficiency of automobiles.

Mr Bush said through his plan, with the backing of the US Congress, ''we can help solve one of the great challenges facing our generation. And we can leave behind a cleaner and better world for our children and grandchildren.''

UNI