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Feb 24 2012

Obama Proposes Meeting Energy Needs With Algae

During his campaign, Obama promised to make energy prices skyrocket, and he has certainly delivered. But not to worry, he has a new plan that will meet our energy needs without allowing drilling or pipelines. We’ll just use algae:

“We’re making new investments in the development of gasoline, diesel, and jet fuel that’s actually made from a plant-like substance, algae — you’ve got a bunch of algae out here,” Obama said at the University of Miami [yesterday]. “If we can figure out how to make energy out of that, we’ll be doing all right. 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 America.”

Turning algae into gasoline is simple. All you do is have Ben Bernanke print up piles of money, then throw the money at the algae:

The Department of Energy (DOE) currently spends about $85 million on 30 research projects “to develop algal biofuels,” according to the White House, which announced that Obama is committing another $14 million to the idea.

During the last Republican debate, John King foolishly asked the candidates to describe themselves in one word. Summing up Barack Hussein Obama in one word is easy: FARCE.

algae
There’s an unlimited supply between liberals’ ears.

On a tip from Blue.

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  • whotothewhat

    Barack will have us using this in our gas tanks. And Michelle will have us spreading this on some type of low fat bread like substance.

  • SNuss

    If we could convert all of the Obama administration’s B.S. into methane gas, we could solve the energy crisis for decades, if not centuries.

  • GoY

    Algae is a promising fuel source, and in 20 or 40 years it might replace a portion of the energy we derive from fossil fuels… but until then, we need to drill and develop conventional reasources, which Obama opposes. Except for Brazil, of course, to whom he “loans” billions for offshore drilling.

  • J

    Well judging by much of a swamp he turned the WH into, he can probably provide fuel to the whole US till the end of the year.

    After that evict this clown.

  • AC

    Algal biofuel is promising, especially for applications with no electric equivalent, such as jet propulsion. The military should be watching long-term development to ensure we don’t go down the path of the Germans in WWII, losing operational capacity due to a fuel shortage.

    That being said, flushing taxpayer dollars down crony capitalist boondoggles will not help us in any way.

    If there is any promise to this technology, it will be discovered by the free market.

    You can bet that big oil would love to cut out the Middle East and secure higher profit margins for fuel they produce domestically.

  • KHarn

    I’ve looked into this, it really works!
    HOWEVER…
    At present, it takes several acres to make a barrel of oil.

    Remember when the ONEderchild said checking the pressure in our tires supposed to solve all our energy problems? Remember he said it would save MORE gas than we could get from drilling in Anwar? What happened to that?

  • AC

    The current algal biofuel test runs use the algae as a fast growing source of biomass. This approach is expensive, impractical, and suffers from EROEI problems.

    The promising future is through genetic engineering, something which liberals hate. If the algae can be engineered to secrete the fuel directly (as many bacteria were engineered to do for certain medicines and chemical precursors), then the usable fuel can be continuously extracted from a multi-layer algae tank.

    There’s a promising history behind the science of capitalist genetic engineering. It has already done wonders for food production, medicine production, and chemical production.

    I look forward to the day when American farmers can begin displacing Islamist oil sheikhs.

  • KHarn

    By the way, a PIPELINE could easily run it’s pumps on WINDMILLS and SOLARPANELS since the demand would be far less than a city. That would be better than burning fule in tankers going to and from the mideast. That means that the KEYSTONE PIPELINE could have been more “green” than continuing to depend on the unstable and greedy muslims.

  • blue

    what the Onederchild meant was that we fill our tires with magical unicorn farts…that will get us better gas mileage!

  • AC

    What happened to that?

    Somebody ran the numbers and discovered that the increased tire replacement from increased pressure-related wear would itself consume a lot of oil. Overinflating of tires was debunked. Tires are fine as long as people follow manufacturer recommendations.

  • Bob Roberts

    Algae actually does have some promise, but – like wind power and solar – it is also not the cure-all that Obama seems to be claiming in hopes of saving his floundering re-election prospects.

    Obamas impressive list of accomplishments!

    First President to ignore the National Day of Prayer ceremonies because it was Christian based, but then send out a 5 minute long Ramadan Blessing to the Muslims of the world on behalf of the American people.

    First President to apply for college aid as a foreign student, then deny he was a foreigner.

    First President to have a social security number from a state he has never lived in.

    First President to preside over a cut to the credit-rating of the United States .

    First President to violate the War Powers Act.

    First President to be held in contempt of court for illegally obstructing oil drilling in the Gulf of Mexico .

    First President to defy a Federal Judges court order to cease implementing the Health Care Reform Law.

    First President to require all Americans to purchase a product from a third party.

    First President to spend a trillion dollars on shovel-ready jobs when there was no such thing as shovel-ready jobs.

    First President to abrogate bankruptcy law to turn over control of companies to his union supporters.

    First President to by-pass Congress and implement the Dream Act through executive fiat.

    First President to order a secret amnesty program that stopped the deportation of illegal immigrants across the U.S. , including those with criminal convictions.

    First President to demand a company hand-over $20 billion to one of his political appointees.

    First President to terminate Americas ability to put a man in space.

    First President to have a law signed by an auto-pen without being present.

    First President to arbitrarily declare an existing law unconstitutional and refuse to enforce it.

    First President to threaten insurance companies if they publicly spoke-out on the reasons for their rate increases.

    First President to tell a major manufacturing company in which State they are allowed to locate a factory.

    First President to file lawsuits against the states he swore an oath to protect (AZ, WI, OH, IN).

    First President to withdraw an existing coal permit that had been properly issued years ago.

    First President to fire an inspector general of Ameri-corps for catching one of his friends in a corruption case.

    First President to appoint 45 czars to replace elected officials in his office.

    First President to golf 73 separate times in his first two and a half years in office, 90 to date.

    First President to hide his medical, educational and travel records.

    First President to win a Nobel Peace Prize for doing NOTHING to earn it.

    First President to go on multiple global apology tours.

    First President to go on 17 lavish vacations, including date nights and Wednesday evening White House parties for his friends; paid for by the taxpayer.

    First President to have 22 personal servants (taxpayer funded) for his wife.

    First President to keep a dog trainer on retainer for $102,000 a year at taxpayer expense.

    First President to repeat the Holy Qur’and tells us the early morning call of the Azan (Islamic call to worship) is the most beautiful sound on earth.

    First President to take a 17 day vacation.

    So how is this hope and change working out for ya?

  • Bob Roberts

    But, as several have guessed, this is Obama signalling to his cronies that if they set up some algae to energy shell company, he will see they get billions of taxpayer dollars THEN they can declare bankruptcy and laugh all the way to the bank.

  • Bloodless Coup

    To say that this proposal is an insult to our intelligence would be the understatement of the of the century.

    Obama thinks we are soooooooo stupid that he doesn’t even try to make his proposals sound plausible anymore.

  • Ghost of FA Hayek

    Algae as a biofuel does not show much promise, mostly because of the logistical problems KHarn eluded to.
    But it’s research is very important to the process of finding new alternatives.
    That being said, now that Obama has focused the behemoth gobbler of productivity known as the federal government on it, rest assured that algae will follow the same path as it’s predecessor and boondoggle, ethanol.

  • chillis65

    I’m sure there’s plenty of Obama campaign bundlers and big donors with ties to the money will make sure it’s put to good use.

  • lao

    bobby whines, (again!) First President to golf 73 separate times in his first two and a half years in office, 90 to date.

    1,000+ Reasons To Like Ike

    Dwight David Eisenhower got in his share of golf, and then some. A study of the 34th president’s daily itinerary during his eight years in office from 1953-’61 turns up a staggering 1,000-plus days of golf, including almost 800 rounds everywhere from Augusta National to Cypress Point to Turnberry and beyond.

    Not that playing 100 rounds a year was a bad thing. But no president before or since played so avidly, and we’re now in an age where there’s intense pressure on politicians to avoid being perceived as slackers.

  • AC

    lao is really scraping the bottom of the barrel on this one. He’s faulting a president who governed before the invention of mobile telephones, email, and videoconferencing.

    People used to have to meet to hold a meeting.

    Next, lao will fault Washington for being a boating enthusiast.

  • AC

    Calling the Supreme Allied Commander a slacker is just funny. That might have some traction against one of the Bushes, but there is not a shred of laziness in a man who rose through the ranks with the can-do attitude needed to defeat Hitler.

  • lao

    AC, get real, I’m laughing at the notion that Obama’s golfing is an issue.

    Since, as you point out, mobile telephones now exist, obviously Obama, unlike Ike, is able to take Presidential calls while bashing through the rough looking for the results of that slice.

  • ent

    To demonstrate how patently ridiculous Oliar’s fabrications are, let’s do some math…

    We import roughly 4.5 billion barrels of oil per year. 17% of that is 765 million barrels. KHarn says that it takes several acres to grow enough algae to produce one barrel of oil. Lets suppose that “several” means 5. All we need, then, is 5 times 765 million = 3.8 billion acres of land to grow enough algae to replace 17% of our imported oil.

    Let’s see, the United States entire land mass is about 1.9 billion acres. So, all we need is a land mass twice the size of the United States to make this work. Hmmm, maybe we can get Canada involved. Sounds like a good plan!

    And as has already been stated, this doesn’t even begin to address the issue of how much energy would be needed to harvest and process the algae. I’m confident that it would take more than a barrel of oil to farm the several acres of algae required to save a barrel of oil.

  • A. Levy

    Forget the algae research. What is truly amazing here is how the Marxist-in-Chief can get up in front of the TV cameras, look directly at the American people, and lie. If that doesn’t tell the people what he really thinks of them, then nothing will. And in that case, they richly deserve everything that will come their way in a 2nd Obummer administration.

  • Michelle

    The timeline of the stuttering fool who caused it

    http://www.speaker.gov/blog/?postid=281631

  • sablegsd

    Tom Hanks = Forrest Gump

  • starkness

    Hey Lao Tse Dung:

    You got a lotta cojones to compare a great American hero with the current punk we have in office now.

  • Ghost of FA Hayek

    ent
    Not that it matters
    Here is the math on ethanol
    http://healthandenergy.com/ethanol.htm
    An acre of U.S. corn yields about 7,110 pounds of corn for processing into 328 gallons of ethanol. But planting, growing and harvesting that much corn requires about 140 gallons of fossil fuels and costs $347 per acre, according to Pimentel’s analysis. Thus, even before corn is converted to ethanol, the feedstock costs $1.05 per gallon of ethanol.
    The average U.S. automobile, traveling 10,000 miles a year on pure ethanol (not a gasoline-ethanol mix) would need about 852 gallons of the corn-based fuel. This would take 11 acres to grow, based on net ethanol production. This is the same amount of cropland required to feed seven Americans.

    If all the automobiles in the United States were fueled with 100 percent ethanol, a total of about 97 percent of U.S. land area would be needed to grow the corn feedstock. Corn would cover nearly the total land area of the United States.
    ——-
    Because of this, ethanol is only economically viable where there are mandates

  • lao

    too funny starky.

    Apparently, it’s good if the “great American hero” played golf 100 times a year but it’s bad if the “current punk” played golf 90 times in 3+ years.

    When you finally embrace reality you might realize it doesn’t matter one little bit how much EITHER of them played golf.

  • Laurie

    Oil from algae, eh?

    I’ll show my support for Obama by scraping all the “algae” from underneath the sinks in my house and shipping it to him.

  • AC

    AC, get real, I’m laughing at the notion that Obama’s golfing is an issue.

    Since, as you point out, mobile telephones now exist, obviously Obama, unlike Ike, is able to take Presidential calls while bashing through the rough looking for the results of that slice.

    In the modern age, face to face meetings are much less necessary than in Ike’s day.

  • DoucheBagLao

    But! Ikeeeeeeeeeeee!

  • Pingback: Zappatrust Images » Same Old Smoke and Lies()

  • TED
  • Jock

    ent says: February 24, 2012 at 10:53 am

    To demonstrate how patently ridiculous Oliar’s fabrications are, let’s do some math…

    We import roughly 4.5 billion barrels of oil per year. 17% of that is 765 million barrels. KHarn says that it takes several acres to grow enough algae to produce one barrel of oil. Lets suppose that “several” means 5. All we need, then, is 5 times 765 million = 3.8 billion acres of land to grow enough algae to replace 17% of our imported oil.

    Let’s see, the United States entire land mass is about 1.9 billion acres. So, all we need is a land mass twice the size of the United States to make this work. Hmmm, maybe we can get Canada involved. Sounds like a good plan!

    And as has already been stated, this doesn’t even begin to address the issue of how much energy would be needed to harvest and process the algae. I’m confident that it would take more than a barrel of oil to farm the several acres of algae required to save a barrel of oil.

    I’m glad to see you’re applying math to the question, unfortunately while your arithmetic may be correct, pulling your assumptions are not.

    Since algae has a harvest time of about a week (between 1-0 days) your ‘5 acres to produce 1 barrel’ is just a bad guess.

    According to the Moonbats at ExxonMobile, “Algae could yield more than 2000 gallons of fuel per acre per year of production” – that’s 47 barrels per acre per year, not the 1/5 barrel per acre you pulled out of your assumption. In other words your assumption is out by a factor of 238. It would take an area about 15,000 square miles to replace all of the petroleum fuel in the USA, that’s 1/7th the area currently growing corn – and algae can be grown on any land, not prime farm land.

    So – not ‘patently ridiculous’ at all, it’s the Moonbattery response to anything they don’t understand (which is most things) that’s ridiculous

  • TaterSalad

    Coming this summer in the United States……$5.00 per gallon gas! Thank you Barack Obama! Thank you for supporting your “green jobs agenda”, wind mills and solar companies that went bankrupt while walking away from the Keystone Pipeline project that would have brought us oil/gas products from Canada.
    http://www.mcall.com/business/mc-gas-prices-20120214,0,2776477.story?track=rss

    http://news.investors.com/Article.aspx?id=602069&p=1&ibdbot=1

    Obama supporters, the Rockefellers ax the Keystone Pipeline Project: http://www.westernjournalism.com/rockefellers-played-critical-role-in-shutting-down-keystone-pipeling/

    If the above isn’t bad enough, Barack Obama now is considering to give part of America’s oil rich lands away: http://www.westernjournalism.com/obamas-giveaway-oil-rich-islands-to-russia/

    http://gulagbound.com/26373/latest-sabotage-obama-marxist-mole-steals-oil-rich-alaskan-territory-for-russia/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+gulagbound+%28GulagBound.com%29&utm_content=My+Yahoo

    https://joemiller.us/2012/02/joe-miller-obama-giving-away-alaskas-oil-rich-islands-to-russia/

    America’s oil demand is down while MSM tells us all that demand is up: http://www.teapartynation.com/profiles/blogs/germany-reminds-us-that-the-key-is-energy

  • lao

    potato, you really need to educate yourself and pay attention.

    The so-called “oil rich islands giveaway” claim has already had a moonbattery threaddevoted to it and that fantasyland was completely debunked.

  • Marmo

    I thought biofuels produced more pollution and greenhouse gasses than gasoline.

    Why does Obama hate the environment?

  • GoY

    Unlike Obama, Ike actually accomplished a few things. He built the interstate system, while Obama’s “Stimulus” went to pay off public employee unions and teach African men to wash their pee-pees.

    Meanwhile, here we have a scientist who won one of the real Nobel Prizes (not the Peace prize they hand out to terrorists and blowhards), telling us why biofuels can never replace fossil fuels.

    http://wavefunction.fieldofscience.com/2012/02/end-of-biofuels.html

  • Ghost of FA Hayek

    Algae could yield more than 2000 gallons of fuel per acre per year of production”
    ——-
    I guess Jock has a difficult time differentiating between WILL and COULD
    —–
    Under the program, if research and development milestones are successfully met, ExxonMobil expects to spend more than $600 million, which includes $300 million in internal costs and potentially more than $300 million to SGI.
    This means IF you can show us this, we MAY give you more.
    BTW,
    15000 square miles you tout is half of Lake Superior.
    The land of 10000 lakes (Minnesota) has 5000 square miles of freshwater lakes
    That’s THREE Minnesota’s worth of fouled lakes.
    Who will break the news to the greenies ?

  • http://www.henrypbabcock.com Henry

    lao says: February 24, 2012 at 10:18 am

    Out of that entire list, that’s the best you can do?

    As usual, pathetic prog fail.

  • Jock

    Ghost of FA Hayek:
    ‘Could’ is why it’s a promising research project. Research takes money and pays dividends if it’s successful. The claim that it’s patently ridiculous has been debunked.

    15000 square miles is about 1/7th the area used for growing corn, and about the same area as is farmed for cotton – and that’s to replace all petroleum fuels, not the 17% proposed. So the stupid claim that it would take two USA’s to grow 17% has been debunked.

    No one is suggesting growing it in the great lakes, or indeed in any natural waterway. So that straw man argument has been debunked.

    The conclusion is that algae derived biofuel is a promising, practical, and carbon neutral technology. Obama and ExxonMobile are funding research into it. Why is that a problem for the Moonbattery Chickens?

    Who will break the news to them?

  • lao

    As usual henry, you leap to stupid conclusions. I ignored the rest of the list.

  • http://www.henrypbabcock.com Henry

    Obama funds nothing; the American taxpayers – all 51%, and falling, of them – fund that research; which is outside the scope of the federal government’s purview.

    Private research on the other hand… Whoa, that evil oil company ExxonMobile is doing the research; better hope they don’t get socia… er, taken over by the government. That would be the end of algal fuels.

    Take it over to DU or Kos, prog.

  • http://www.henrypbabcock.com Henry

    lao says: February 24, 2012 at 4:54 pm

    Incapable of addressing them.

    Same prog fail.

  • Bloodless Coup

    Obama Failed To Appear In An Adminstrative Court Again Today. Instead Of Issuing A Default Ruling Against Obama For His Failure To Appear, The Motion For A Default Ruling Was Flatly Denied. In Addition To Their Letting Obama Off Scott Free, The Ballot Challenge Was Unanimously Denied. This Is Totally UNACCEPTABLE! We Need To Revolt!

    http://obamareleaseyourrecords.blogspot.com/2012/02/indiana-election-commission-obamas-moms.html

  • lao

    LOL!! I picked the golf whine because moonbattery and the parrots snivel about that on a regular basis. It was stupid then and it is stupid now.

    Feel free to claim Obama “gave away” U.S. territory in Alaska. I could use a good laugh.

    I’ll check in tomorrow to see how you managed.

  • Bath House Barry

    lao says: February 24, 2012 at 10:41 am- “…obviously Obama, unlike Ike, is able to take Presidential calls while bashing through the rough looking for the results of that slice.”

    Lao, sweety, is that code? I hope it is, coz it’s gettin’ me hot. I really dig it when Reggie shows me how to hold my wood. Gnomesayin?

  • KHarn

    “Jock says:February 24, 2012 at 4:27 pm”

    How many YEARS will it take to DEVELOP this tech? How many YEARS will it take to build the algie farms? We KNOW where the oil is and we have the tech to exploit it. Back in the SEVENTIES they nay-sayers said that drilling for oil in America was impractical because it would take “thirty years” to show results. That was FORTY YEARS ago. Why is useing a KNOWN AND PROVEN resource while developing new ones wrong?

    “lao says:February 24, 2012 at 4:54 pm”

    You wouldn’t be LAO if you didn’t ignore facts to protect your tin god.

  • Jock

    How many YEARS will it take to DEVELOP this tech? How many YEARS will it take to build the algie farms?
    Don’t know, that’s why it’s a research project. So the sooner we start the research, the sooner we’ll know the answers. If we listen to the clucking Moonbattery nay sayers it will never happen.

    Why is useing a KNOWN AND PROVEN resource while developing new ones wrong?Duh. No one said it was, and indeed we are.

    Back in the SEVENTIES they nay-sayers said that drilling for oil in America was impractical because it would take “thirty years” to show results. That was FORTY YEARS ago Congratulations on mastering arithmetic. I don’t know where you were in the seventies, I was at university studying engineering and I never heard anyone saying that. I spent the subsequent years working in the mining and oil industries. Maybe I listened to smarter people than you did.

  • AC

    Why not put the government in charge of the algae?

    Socialize it all.

    In five years, there won’t be any left, and I can cut back on maintenance of my fish pond.

  • Ghost of FA Hayek

    Jock
    I have no problem with PRIVATE research into these arena’s.
    This is because they will chase only avenues which are economically viably.
    However,when the government invests MY money, they expect a POLITICAL return.
    Examples of this include the Chevy Volt, wind, solar, and ethanol.
    Each one of these costs more to produce than the market will bear, so they require subsidy and/or mandates to work.
    This is money drained from the economy forever, so will never be available for investment into what eventually can work.
    And what of those private sector investments ?
    New drilling techniques are finding so much oil in the Bakkan reserve, the Department of Interior bureauweenies can’t keep up.
    Who knows, maybe someday algae will make the ethanol boondoggle cut.
    But right now, I would not trade a million gallons of nonexistent algae energy for each drop of lost shale and deep water gulf oil thanks to the luddite-in-chief

  • Ghost of FA Hayek
  • LarryG

    Another chowder-head green boondoggle ripoff that is bound to fail after sucking out billions more tax money to give to the perpetrators of the crime.I suggest the following sites:

    Obama oil lie
    http://tinyurl.com/3f7tqc7

    Abiotic oil
    http://astuteblogger.blogspot.com/2010/03/oil-without-end-plate-tectonics-and.html

    Renewable
    http://astuteblogger.blogspot.com/2009/10/what-if-oil-is-life-form-oil-wells-that.html

    Energy Myths of the left
    http://spectator.org/archives/2011/05/27/energy-myths-of-the-left

    Green River basin
    http://ostseis.anl.gov/guide/oilshale/

    Bakken Formation
    http://www.nextenergynews.com/news1/next-energy-news2.13s.html

    I suggest you copy thes to a document so you can have the time to read the information. Serious stuff.

  • 762×51

    Comrade Chairman better be careful. When the First Sow finds out about algae it will be on his diet. After all, she needs to save the french fries and BBQ for her gluttonous self.

  • Ghost of FA Hayek

    Not all resources in place are recoverable; however, even a moderate estimate of 800 billion barrels of recoverable oil from oil shale in the Green River
    From Larry’s Green River link
    Formation is three times greater than the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, the estimated 800 billion barrels of recoverable oil from the Green River Formation would last for more than 400 years1.
    ————-
    Or we could just send more money to Petrobas, and wait four more years for the algae to bloom.

  • Jock

    Ghost of FA Hayek says: Jock I have no problem with PRIVATE research into these arena’s. This is because they will chase only avenues which are economically viably.

    If we relied only on PRIVATE research, we would be a hell of a lot poorer. None of the NASA spinoffs for example. No satellites, no Internet, no gene sequencing, no penicillin, etc.

    Perhaps you could tell me why we should continue to subsidise very profitable oil companies? (even though I work for them, it doesn’t seem reasonable) This funding is a tiny fraction of the subsidies oil companies recieve – and has a high probability of a payback. If the US doesn’t do the research, we’ll be buying the technology from China.

  • Tim from TK

    Jock says:

    “Maybe I listened to smarter people than you did.”

    Evidently not.

    “None of the NASA spinoffs for example. No satellites, no Internet, no gene sequencing, no penicillin, etc.”

    Penicillin ? So NASA is National Association of Scottish Alchemists ? With a name like Jock you might think so, seeing as how penicillin was discovered in 1928 by Alexander Fleming, a Scot.

  • Jock

    Congratulations – Alexander Fleming was indeed a Scot. Doing publicly funded research at the University of London. Other countries do publicly funded research you know.

  • Tim from TK

    “Jock says: February 24, 2012 at 9:14 pm”

    I am glad I could get you to look up something and learn that NASA had nothing to do with penicillin, your tap dance not withstanding.

    Now to further your education, which is evidently sorely lacking, although it might not have been the case for Fleming, much research done in “publicly funded” institutions is underwritten by grants from – get this – private industry.

    Shocking, I know, but if schools didn’t waste so much money on useless social programs and excess administrators, they might be able to fund real research on their own.

    Now you go right ahead and worship at the altar of government.

  • Ghost of FA Hayek

    If we relied only on PRIVATE research, we would be a hell of a lot poorer
    Jock
    _____
    I see, not like the former Soviet Union which relied solely on PUBLIC research ?

    Perhaps you could tell me why we should continue to subsidise very profitable oil companies?
    ______
    So we subsidize wind, solar, and ethanol because we subsidize “big oil” ?
    But what are these “subsidies oil companies rake in ?
    Mainly just tax deductions, rather than the cold hard cash green energy receives.
    The principal tax subsidies for the oil industry are as follows: a “domestic manufacturing deduction” that allows oil and gas companies to deduct an extra 6 percent of their taxable income; a deduction for “intangible costs,” which are costs for investments in oil exploration or production that have no salvage value, such as clearing land to enable an oil well to be drilled—the oil companies are not required to amortize these costs over the entire expected life of the oil well—and last the companies are permitted to deduct royalties they pay to foreign government, on the ground that royalties paid to a government are really a tax.
    After all this “subsidy, they pay about 6 billion in tax
    Exxon enjoyed a 47% effective tax rate in 2009. How is that for “fair share” ?
    How about no subsidies for nobody ?

    http://reason.com/blog/2011/05/16/oil-industry-subsidies-21-bill
    Even left-of-center energy activists like Amory Lovins of the Rocky Mountain Institute, Carl Pope, executive chairman of the Sierra Club, and green energy investor Jeffrey Leonard, chairman of the Global Environment Fund, think the time is ripe to eliminate all energy subsidies in the tax code and let the best fuel win.
    ______
    . If the US doesn’t do the research, we’ll be buying the technology from China.
    First, if technology from China would prove to be superior in theory and economically viable, we would be foolish not to.
    Second, you must first make the case as to why a country like China, with it’s state controlled research is superior.
    Maybe start with the items surrounding you there in your mom’s basement.
    The truth is that collectivism can only produce things to fill a demand. (Call me when the Chinese politburo one ups Apples I phone)
    http://latimesblogs.latimes.com/technology/2012/01/apple-store-riot-in-china-iphone-.html
    And most times that demand is political.
    Capitalism, on the other hand is forward thinking.
    It’s players must literally ANTICIPATE demand .
    It is at this very moment, developing new technologies that you don’t even know you “need” yet.

  • Chronos the wonder pig

    Obamatanium!!!

  • son of a preacher man

    Benoît B. Mandelbrot did more for our technological advances than NASA. Who funded his research?

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