President Obama's Energy Speech at University of Miami

Today President Obama gave a great speech touching upon issues relating to American energy. He called for a comprehensive energy policy that would end oil subsidies and boost biofuels and other renewables to reduce our reliance on the volatile world oil market that is subject to so much turmoil in the Middle East.  Obama told the students gathered at the University of Miami in Coral Gables, Florida that, while his administration is doing everything in their power to tap domestic oil and gas resources, it is politically dishonest to tell the American people that "drill, baby, drill" will realistically solve all our energy problems. The president said that public investments in energy efficiency and clean energy technologies will spur entire new industries and create millions of new jobs. As an example, he cited homegrown algae-based biofuel as having the potential to eventually replace imported petroleum entirely as a transportation fuel for airplanes and automobiles.

President Obama said the following about algae: