Obama Grants $25M Loan To Create 38 Biofuel Jobs

Two days after President Barack Obama blocked construction of a major oil pipeline, his administration is touting its efforts to expand domestic production of renewable energy.

Agriculture Secretary Tom Vilsack announced Friday that his agency has approved a $25-million conditional loan guarantee to build a 55,000-square-foot biorefinery plant in Iowa.

The Fiberight facility will produce cellulosic ethanol by converting municipal solid waste and other industrial pulps into “advanced biofuels,” the news release said.

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