Navy Pays $16 a Gallon for Biofuels

Insanity and crony "capitalism" (or Capitalism In Name Only).  They should make the Department of Health and Human Services, the EPA, and the State Department run all their operations on biofuels.  Less performance for the same amount of money would be a blessing.

Teaming up with the Department of Agriculture (which has a cheery Rotary Club ring to it), the Navy has purchased 450,000 gallons of biofuel for about $16 a gallon, or about 4 times the price of its standard marine fuel, JP-5, which has been going for under $4 a gallon.

You won’t be surprised to learn that a member of Obama’s presidential transition team, T. J. Glauthier, is a “strategic advisor” at Solazyme, the California company that is selling a portion of the biofuel to the Navy. Glauthier worked – shock, shock – on the energy-sector portion of the 2009 stimulus bill.

The details

The Navy sale isn’t Solazyme’s first trip to the public trough, of course. The company got a $21.8 million grant from the 2009 stimulus package.

OMG!