US wants to displace oil as transport fuel "for good"

Khor Reports: US plans research and new technology to get its cars and trucks off oil "for good" by focusing mostly on electricity and natural gas as alternatives.First generation bio-fuels, including palm biodiesel are facing challenges on various fronts, including the environmental. Instead, waste feedstocks are increasingly in vogue. The US energy renaissance is set to make its industry more globally competitive with energy a fraction of its old cost. There is a widespread view that the transport fuel sector will remain business-as-usual. If the new US R&D plan bears fruit, does that still hold true? The global energy market is big. Is the US move more likely to impact its own gas prices and keep international petrol prices relatively high?   

News link: ; "US President Barack Obama proposed using some federal oil and gas revenue to fund an energy security trust that would support “research and technology to shift our cars and trucks off oil for good.” would be strictly focused on pursuing technologies to displace oil in transportation, particularly electricity and natural gas. SAFE’s proposal also called for yearly contributions to be capped..";