Free Markets, Free People

Solazyme


Why Is The President Pushing Pond Scum?

Well the Washington Free Beacon has an idea:

President Obama’s most recent green energy fixation—algae—may suffer from the accusations of cronyism that have plagued his broader effort to promote non-fossil fuel energy sources through massive federal subsidies.

May suffer?  Read on:

Solazyme, a San Francisco-based firm that specializes in the plant matter, has received more than $25 million in federal grants and contracts as part of Obama administration’s controversial stimulus package, and is poised to receive millions more as part of the president’s recent efforts to promote green biofuels such as algae.

The firm employs a former member of the Obama-Biden transition team who, according to one online bio, “played a key role in developing the energy provisions in the economic stimulus bill.”

That’s right, the usual – crony capitalism.  And in this case, you get a twofer.  San Fran Nan’s district benefits.

Be nice if the guy who claimed he was going to change “politics as we know it” wouldn’t revert to “politics as usual” at every opportunity to pad his re-election campaign and help out his cronies, huh?

~McQ

Twitter: @McQandO