At a meeting with a bipartisan group of governors, President Barack Obama laid out plans to boost biofuels production and reduce our dependence on foreign oil.

As part of a comprehensive strategy to move toward a clean energy economy, Obama announced that the Environmental Protection Agency has finalized a rule to implement the long-term renewable fuels standard of 36 billion gallons by 2022 established by Congress.

The U.S. Department of Agriculture has also proposed a rule on the Biomass Crop Assistance Program (BCAP) that would provide financing to increase the conversion of biomass to bioenergy.

The President's Biofuels Interagency Working Group released its first report, Growing America's Fuel. The report outlines a strategy to advance the development and commercialization of a sustainable biofuels industry.

In addition, Obama has created an Interagency Task Force on Carbon Capture and Storage to develop a comprehensive and coordinated federal strategy to speed the development and deployment of clean coal technologies. He calls for five to 10 commercial demonstration projects to be up and running by 2016.

"Now, I happen to believe that we should pass a comprehensive energy and climate bill," Obama said. "It will make clean energy the profitable kind of energy, and the decision by other nations to do this is already giving their businesses a leg up on developing clean energy jobs and technologies."

"The renewable fuel standards will help bring new economic opportunity to millions of Americans, particularly in rural America," said Lisa P. Jackson, EPA administrator. "EPA is proud to be a part of the President's effort to combat climate change and put Americans back to work - both through the new renewable fuel standards and through our co-chairmanship with the Department of Energy of the Interagency Task Force on Carbon Capture and Storage."