The Navy last month signed a $12 million contract to buy 450,000 gallons of fuel made from algae and used cooking oil, the largest biofuel purchase in U.S. government history. While that price amounts to OVER $26 a gallon, the department says the expenditure will help next-generation biofuels become competitive with conventional transportation fuels.
Okay, economically speaking, that’s STUPID.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury