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Obama announced a Presidential Memorandum creating an Interagency Task Force on Carbon Capture and Storage. The task force will be charged with developing a comprehensive and coordinated federal strategy to speed the development and deployment of clean coal technologies. The President called for five to ten commercial demonstration projects to be up and running by 2016.
In addition to the clean coal initiative, the president announced various energy initiatives from executive agencies. The EPA has finalized a rule to implement the long-term renewable fuels standard of 36 billion gallons by 2022, as established by Congress. The U.S. Department of Agriculture has proposed a rule on the Biomass Crop Assistance Program (BCAP) that would provide financing to increase the conversion of biomass to bioenergy.
The President's Biofuels Interagency Working Group also released its first report – Growing America's Fuel. The report, authored by group co-chairs, Secretaries Vilsack and Chu, and Administrator Jackson, lays out a strategy to advance the development and commercialization of a sustainable biofuels industry to meet or exceed the nation's biofuels targets.