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“We’re making new investments in the development of gasoline and diesel and jet fuel that’s actually made from a plant-like substance—algae.” “Believe it or not, we could replace up to 17 percent of the oil we import for transportation with this fuel that we can grow right here in the United States.” From President Obama’s speech at the University of Miami.[ia]
“There are no silver bullets short term when it comes to gas prices—and anybody who says otherwise isn’t telling the truth” Obama noted in a speech at the University of Miami. The president then discussed a $14 million federal grant to help make fuel from algae that he believes can replace up to 17 percent of our imported oil at lower cost and in an energy secure manner. This algae pipe dream has been dreamt for years. Since the Carter administration, the dream of producing fuels from algae has been just around the corner. Even the proponents of this dream admit that algae-produced transportation fuels will not be commercially available at that level for a long time. Former President Bush has a similar pipe dream of cellulosic ethanol—not one of the production targets mandated in the Energy Independence and Security Act of 2007 has been met. Obama’s algae pipe dream will not be here in the short term as he well knows. But, President Obama can take action to lower oil prices if he chooses to go the route of conventional fuels and allows access to them on federal lands.
Originally posted by EvilSadamClone
You do understand that one of the reasons why gas prices run so high is ebcause there is no real competition. If there were more competition, then gas prices would be lower. I don't know how much lower, but I will welcome lower gas prices. I'd love to see gas prices at $2.69 again, like they were ten to fifteen years ago. There's no real reason why gas prices should be so high, and the only real reason they are this high is because of greed, and only greed.
So I will support Obama on this particular issue.
Of course, you can expect the big oil companies to fight this tooth and nail ebcause it will mean less profit for them.
And of course algae can be used along with the other crops and waste plant material that, well, go to waste, as well as creating jobs and a new economy.
This kind of things only has win win across the board.