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Behind the Headlines - 08/02/12 Biofuels Boondoggle
08/02/12 Biofuels Boondoggle

The Pentagon pays less than two dollars a gallon for jet fuel.

Under President Obama's half a billion dollar 'green energy' initiative for the military the Navy spent $26 a gallon for biofuel made from algae.

Think that's expensive?  That's nothing.  The Air Force recently spent $59 a gallon for biofuel made from sugar.

The negative impact of using sugar for biofuels is that it causes a rise sugar prices, driving up the cost of thousands of food products.  Hitting every American family in the pocketbook.

But don't think this is about green energy.  Or renewable energy.  Or any other bumper sticker slogan.

It's all about paying-off supporters and donors.  A company named Solazyme makes the Navy biofuel.  Gevo produces the Air Force biofuel.  Both companies are surrounded by Obama insiders, supporters and donors.

Solazyme has spent more than $300,000 on lobbying federal decision-makers since 2009.  Its executives have contributed thousands of dollars to Obama and influential Congressmen.

A major shareholder in Gevo has contributed more than $535,000 to political campaigns since 1996, including to Barack Obama.

This is nothing more than plundering the U.S. Treasury to enrich friends, donors and supporters.

08/02/12 Biofuels Boondoggle


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