“To follow the president down the algae-paved path to energy security, Americans must ignore the fact that trillions of gallons of domestic oil is available today at much more reasonable prices than the administration’s algae farm.”
Thomas Pyle writes in the Washington Times:
… Even if algae-based fuels could be commercialized today, the need for further taxpayer-funded subsidies is both unnecessary and improper. First, Congress has already mandated that refiners blend 2 billion gallons of biofuel into gasoline in 2012 alone. In other words, there’s already a lucrative market in place for algae-to-fuel industries thanks to government mandates, however ill-conceived. Second, the government should not be in the business of picking winners and losers and has a horrible track record as a venture capitalist anyway. And yet with this latest proposal, it seems there is no end in sight to this type of meddling in the energy sector and the resulting higher costs to consumers.
Reasonably priced algae-based fuel is currently a concept. Using it in the manner that Mr. Obama proposes would be absurdly inefficient compared to making fuel from crude oil, and it would send the cost of transportation fuel into the stratosphere – or at least to European levels, much like Energy Secretary Steven Chu has wanted. Despite this obvious flaw in the president’s latest scheme, he had no problem dismissing calls for greater access to America’s vast energy resources as a “bumper sticker” rather than a strategy. To follow the president down the algae-paved path to energy security, Americans must ignore the fact that trillions of gallons of domestic oil is available today at much more reasonable prices than the administration’s algae farm….