New Energy for America is a plan led by Barack Obama and Joe Biden to invest in renewable energy sources, reduce reliance on foreign oil, address the global climate crisis, and create jobs for Americans.
The plan was presented in the Barack Obama presidential campaign, 2008.
President Barack Obama in his inaugural address called for the expanded use of renewable energy to meet the twin challenges of energy security and climate change.
Obama issued a pair of memoranda on January 26 to publish higher fuel economy standards for the model year 2011 cars and light trucks by the end of March and lower greenhouse gas emissions (to revisit a California waiver request that would allow that state to implement its own greenhouse gas emission rules for vehicles).
The plan aims to:
- Help create five million new jobs by investing $150 billion over the next ten years to encourage private efforts to develop clean energy sources and technology.
- Save more oil than the United States currently imports from the Middle East and Venezuela combined within 10 years.
- Put 1 million Plug-In Hybrid cars on the road by 2015, with emphasis on cars built in the United States.
- Generate 10 percent of the United States' electricity through renewable sources (renewable electricity) by 2012, and 25 percent by 2025.
- Implement a cap-and-trade program to help reduce greenhouse gas emissions 80 percent by 2050.
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