One might assume, or at least hope, that the fallout over the $535 million Solyndra loan scandal would make the Obama administration think twice before lavishing more taxpayer dollars on politically connected “green energy” firms. Not in the slightest.
The administration’s latest boondoggle involves the use of executive authority to essentially force the U.S. Navy to buy 450,000 gallons of “alternative” biofuel, at the bargain-counter rate of just $15 per gallon. It is the largest federal purchase of biofuel in U.S. history. The massive “investment” is part of President Obama’s broader biofuel initiative, announced in August, on which he envisions spending $510 million over the next three years to support the use of biofuel in military and commercial transportation.
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