Obama Will Solve High Gas Prices With Algae
There he was once more making a campaign speech, advertised as an important “Policy Speech on Energy”, before another crowd of dumb university students. This was a political stunt to off set the real reason Obama was in Miami, Florida; attending three high-dollar fundraisers: one at the swank Biltmore Hotel in Coral Gables, another at the Pinecrest home of a top Democratic fundraiser and a third at the Orlando home of basketball star Vince Carter.
Average gas prices in Florida range from $4 to as high as $6 a gallon. The unemployment rate in Florida is 9.9% and above the national average. Do you think Obama gives a damn about this?
In his speech at the University of Miami, Obama insisted that high gas prices means he will double down on his failed Green Energy policies. Barack feels that all his crony boondoggle loans and paybacks needs another four years, because he has not failed enough.
President Obama’s solution to this crisis; Algae. That’s right, “we’re making new investments in the development of gasoline, diesel, and jet fuel that’s actually made from a plant-like substance known as algae. Believe it or not, we could replace up to 17% of the oil we import for transportation with this fuel that we can grow right here in America. That means greater security. That means lower costs. That means more jobs.”
Obama has been pushing for solar, wind and bio-fuel substitutes since 2007. What is shocking is how vested he is in alternatives that barely make up 8% of energy consumption and cost us hundreds of billions to get off the ground.
Algae, he says? In 2007, Popular Science magazine touted Solix CEO Doug Henston and his plan to create vegetable oil from algae and turn it into bio-fuel. However, these claims remain unrealized, commercially. According to the head of the Algal Biomass Organization algae fuel can reach price parity with oil in 2018 if granted production tax credits.
Obama once again slammed the oil industry over their tax subsidies. The latest information I could find was for F2006 where the federal subsidy to the oil industry was $3.5 billion out of the total of $13.6 billion for all energy subsidies.
In return the oil industry paid the US Treasury $37 billion in corporate income taxes in 2006. The feds also charge excise taxes of 18.4 cents a gallon on gasoline and 54 cents per gallon of Diesel fuel sold. The return on this subsidy is enormously profitable.
The most left leaning president in United States history cannot help himself. Only a few days into the White House, President Obama touted his energy policy this way, “a comprehensive plan to invest in alternative and renewable energy, end our addiction to foreign oil, address the global climate crisis and create millions of new jobs” The score on all this is Zero.
In March of 2011, at Georgetown University, Obama launched his “Blueprint for A Secure Energy Future” saying, “But here’s the thing – we’ve been down this road before. Remember, it was just three years ago that gas prices topped $4 a gallon. Working folks haven’t forgotten that. It hit a lot of people pretty hard. But it was also the height of political season, so you had a lot of slogans and gimmicks and outraged politicians waving three-point-plans for two-dollar gas – when none of it would really do anything to solve the problem. Imagine that in Washington.”
Today, at the University of Florida, “You pay more, and they’re licking their chops? And you can bet that since it’s an election year, they’re already dusting off their three-point plans for $2 gas. I’ll save you the suspense: Step one is drill, step two is drill, and step three is keep drilling. We heard the same thing in 2007, when I was running for President. We hear the same thing every year. We’ve heard the same thing for thirty years.”
No solutions offered like opening up federal lands or offshore drilling, shale-oil exploration or the Keystone XL pipeline. Nope, nothing, just more demagoguery.
The only truth spoken in all this election rhetoric by Barack Obama was, “Well the American people aren’t stupid.”
We’ve elected a child, a fat-headed, self aggrandizing nothing to lead us to what exactly? We aren’t that stupid to fall for his divide and conquer, “failed America”, you are “the-not-good-enough” ride over the cliff in 2012.
As an update I am linking to an article in Investors Business Daily, 5 Biggest Whoppers In Obama’s Energy Speech.