|Thomas Hicks speaking at Clinton Global Initative|
An astounding figure shared by Thomas Hicks, deputy assistant secretary of the US Navy for energy, at the Clinton Global Initiative meetings in New York Tuesday on a panel about innovations in green technology.
The Navy, along with other branches of the military, recognizes the need to switch to alternative fuels both to reduce the risks in getting fuel into theaters of war and to reduce its exposure to price volatility.
Last year, the Navy spent over $11 billion on fossil fuels and intends to reduce petroleum use by half by 2020, which could mean replacing it with as much as 8 millions barrels of biofuels a year.
Read my full post in The Energy Collective