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Obama’s algae racket (Michelle Malkin)

_Photoshop source_

Obama's algae racket

by Michelle Malkin

Creators Syndicate

Copyright 2012

Pond scum stinks. And so do the Obama administration's enormous, taxpayer-
funded "investments" in politically connected biofuel companies. While the
president embarks on a green rehabilitation tour this week to quell growing
public outrage about big green boondoggles, the White House continues to
cultivate a cozy algae racket.

Obama's promotion of algae as a fuel source at a campaign speech in Miami last
month caught the nation's attention. But algae companies have been banking on
administration support from Day One. In December 2008, when the White House
announced the nomination of Energy Secretary Steven Chu, the CEO of Florida-
based biofuels startup Algenol, Paul Woods, exulted to Time magazine: "You see
this smile on my face? It's not going away. Everyone is really excited by
this."

The next year, Woods and Algenol -- dubbed "Obama's favorite algae company" by
Forbes magazine -- racked up $25 million in federal stimulus grants from Chu.
Say cheese.

Yet another algae-based biofuels developer, Sapphire Energy, has absorbed $105
million in stimulus funds and loan guarantees even as doubts about the
practicality, efficiency and viability of pond-scum fuels multiply. Sapphire's
CEO, Jason Pyle, has donated exclusively ...

Michelle Malkin

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