Obama’s algae racket

http://www.torontosun.com/2012/03/23/obamas-algae-racket

I've been wondering whatever happened to the stimulus money. Now we know.

Quote :

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.

Solyndra was just the tip of the iceberg waiting to sink the US.

gcruse wrote:

http://www.torontosun.com/2012/03/23/obamas-algae-racket

I've been wondering whatever happened to the stimulus money. Now we know.

Quote :

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.

Solyndra was just the tip of the iceberg waiting to sink the US.

I do wish our brothers in pond-scum well.

NicknamedBob wrote:

I do wish our brothers in pond-scum well.

Meet the New Boss

Scum dressed up as algae
is Obama's bacon.
Why, it's free fuel forever
just ours for the takin'.

But once we've disconnected
from oil baron curmudgeons,
the algae-scum gap
will be the new bludgeon.