Everyone in the world knows that Democrats hate big oil. Especially, Exxon-Mobil. But, in yesterday's speech on energy, Mr. Obama mentioned that we could substitute our demand for oil with fuel that is produced from algae. Of course, just last month, the President also said we should be powering our cars and trucks with natural gas. Nothing like a consistent energy policy. Right?
But, here's the thing. The world leader in blue-green algae research is Exxon-Mobil -- that nasty big oil company. I'm sure you've all seen this TV ad that has been running for quite a few years:
In fact, back in July of 2009, Exxon-Mobil announced a $600 million program to develop the production of fuel from blue-green algae. In the press release, they noted that, unlike oil-based fuels, algae-based fuels would be, at the very minimum, CO2 neutral. That's because the CO2 produced in the burning of any algae-derived fuels would be more than offset by the amount of CO2 being used up by the algae's own growth process.
I just find it interesting that this President is now -- in a backdoor fashion -- promoting Exxon-Mobil. A company that he just targeted for punishment by eliminating any tax loop-holes for big oil.
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