WASHINGTON (Reuters) - President Barack Obama proposed on Monday boosting funds for clean energy research and deployment in his 2012 budget by slashing subsidies for fossil fuels such as oil, gas and coal.
The budget provides the Department of Energy $29.5 billion for fiscal year 2012, up 4.2 percent from the proposed 2011 budget, and up 12 percent from the enacted 2010 budget. Some $8 billion would support research in clean energy like wind, solar and advanced batteries.