Gov. Arnold Schwarzenegger is an exuberant cheerleader for his policies to fight global warming. At times, unfortunately, his exuberance gets the best of him. A recent example is a May 18 speech he delivered to the International Low Carbon Fuel Symposium at the Lawrence Berkeley National Laboratory. During the speech, Schwarzenegger claimed that development of ethanol and other biofuels could help reduce gas prices, which now average about $3.45 a gallon in California. "The Low Carbon Fuel Standard is our best weapon against rising oil prices and gas prices because a vibrant market in alternative fuels and alternative vehicles, alternative...