U.S. deepwater oil and gas research and development will be cut by $20 million dollars, while $40 million in oil company fees will be added to American energy policy, judging by a proposed budget pushed through late Wednesday by U.S. lawmakers.

The 2010 Budget of President Barack Obama raises Energy Department spending to No. 4 after Defence, Education and Transportation. Programmes aimed mostly at “green-energy” will help push Energy’s budget to $33.9 billion, up from $24.1 billion under the former regime.

The new budget aims to add $26.3 billion for Energy projects — grid-building, the drawing up of renewable energy concessions, loan guarantees for renewable-energy — to $38.7 billion earmarked this year and next by the Recovery Act.

By 2012, $78 billion in “climate revenues” from European-style emissions auctions from all the carbon-dioxide seen saved by the budget are seen paying for social programmes and a “clean-tech” fund akin to Norway’s carbon and toxic emissions funds.

Companies that can help the United States deploy a new automated grid by technology or building can hope to draw from new, unspecified amounts of money in addition to the Recovery Act’s $11 billion grid allowance.

Clean coal technology, too, is seen benefitting from new amounts on top of $3.4 billion in the Act’s allotments for coal-tech, a major U.S. concern given the amount of U.S. coal-fired power. The United States already boast the world’s first carbon capture and storage for large-scale coal-fired plant.

Though the budget expects to bring down the current deficit by hundreds of billions of dollars, it also foresees keeping Americans in the red by $1.17 trillion.