Obama administration gave $21.8 million stimulus grant to build a biofuel refinery.

Blue Grass Pundit ^ | 12/18/11 | Bluegrass Pundit

[Nachum]

The $15 a gallon price is 4 times the world market price of conventional jet fuel. The U.S. has plenty of oil and natural gas if the Obama administration would only permit expanded exploration and development.

The announcement is part of President Obama’s goal of advancing a domestic biofuels industry capable of powering vehicles that now use diesel and jet fuel. It’s also part of the administration’s ongoing effort to try to advance parts of its energy agenda that don’t require congressional approval. Another case in point was Obama’s announcement on Friday of new energy-efficient building initiatives. “We can’t wait for Congress to act,” Obama said on Friday. “If they won’t act, I will.” The same concept holds true for Monday’s announcement.

[Nachum]

Full title: Obama administration gave $21.8 million stimulus grant to build a biofuel refinery. Then, had the Navy pay $15 a gallon for biofuel

[Brilliant]

“The name of the lucky company selling the overpriced biofuel is Solazyme. They got $21 million in Stimulus money.”

What a coincidence. Based in Nancy Pelosi’s district.

[Razzz42]

Why again, does government give money to private industry? Besides singling out one and not the others to give money to? Did Congress approve of this distribution?

[RightWingConspirator]

Probably, since Prince Harry Reid and Queen Nancy Pelosi controlled the Senate and House at the time.

[jjotto]

That would be a pretty small biorefinery. Commercial plants probably start at about $100 million. Maybe this is just a ‘take the money and run’ scam?

[Dapper 26]

A lot of good stealth aircraft will do us if all our enemy has to do is follow the smell of french fries?

[BfloGuy]

Maybe this is just a ‘take the money and run’ scam?

Well, it would save us about $5 million in additional fuel costs if it were.

[Fred Hayek]

So I would expect the company to make a big political contribution to the DNC or Obama2012, and then fold. Standard operating procedure for the “green energy” money laundering operation.

[rusty millet]

Congress, DOE, and the USDA are in deep up to their necks in the biofuels scam. These agencies will continue to push this agenda as political justification for their existence even though it will ever be financially viable.

[imardmd1]

The cost per gallon is greater than the value of the finished product. In other words, the energy it takes to produce it is more than the energy to be gotten out of it.

This is crazy!