Drilling for Innovation: Funding Clean Energy R&D with Oil and Gas Revenue

The United States must increase federal investment in critical energy innovation programs to drive down the cost of clean energy. ITIF proposes a potentially bipartisan solution: Congress can generate $1 billion in new revenue by increasing fees on oil and gas drilling on public lands, which should be directed towards fully-funding the Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E).

Photo by Mike BairdPhoto by "otzberg"