IBD: What’s It All About, Algae?

” At a plant that makes natural-gas-powered trucks, the president proposes still more alternative-energy subsidies. The privately developed technology that lowered the price of natural gas can lower gasoline prices too.”

Investor’s Business Daily editorializes:

It was a tad surreal to see President Obama, champion of green energy and unions, visiting a foreign-owned manufacturer of natural gas-powered trucks in a right-to-work state. But there he was Wednesday, at the Daimler Trucks North America truck factory in Mount Holly, N.C., touting vehicles powered by a fossil fuel produced by drilling.

The president, who recently touted pond scum as an energy source of the future, embraced the cleanest-burning of fossil fuels at a campaign stop in a state he carried in 2008 by just 14,000 votes. As he did, he announced another billion-dollar subsidy for the development of fuel-efficient technologies and vehicles.

Obama, who simultaneously takes credit for record oil production he had nothing to do with even as he bashes gasoline as a fuel of the past, says natural gas is a fuel of the future. “We have a supply of natural gas that can last America nearly 100 years,” he noted in his State of the Union address.

That natural gas, much of it trapped in shale rock formations throughout the U.S., is produced by the very same evil oil companies using a technology developed by hydraulic fracturing, or fracking…

Read the entire commentary.

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