Obama Wants Congress to Establish Alternative Energy Research Fund

Wants $2 billion over the next 10 years for the Energy Security Trust

President Obama today will urge Congress to establish a research fund for transportation and fuel alternatives, called an Energy Security Trust, according to White House officials.

The president will tour and give remarks at Argonne National Laboratory just outside of Chicago, a Department of Energy facility for scientific research that specializes in advanced battery production. He will propose setting aside $2 billion over the next 10 years for an Energy Security Trust, which aims to support research and development for electric vehicles, domestic biofuels, fuel cells and U.S.-produced natural gas.