It has been a crazy couple of weeks in energy. A fire in a refinery in Southern California has caused a gasoline shortage and a massive price spike in the once golden state. Governor Moonbeam did not relax the specifications on gasoline and hence gasoline refined in Texas and other nearby states cannot be used in Caliphate of Caliphornia. Gasoline is being shipped from Europe and Asia to try to satisfy California demand. One word for Moonbeam – Crazy!
In Nevada the home of Harry Reid but never Right they have a crazy idea funded by the US Government (Defense, Energy, Agriculture) to make jet fuel from garbage. More nonsense of bio fools but this one they claim will be different from the myriad other failures the Feds have backed over the past several years.
Gevo the company I called Heave Ho announced Alaska Air will buy their jet fuel made from sugar. Their stock that had tanked for months and needed a fifteen to one reverse split, then soared for a day or two until Gevo announced they would now sell many more shares and dilute the existing shareholders. Maybe Gevo will sell Alaska Airlines dilute bio jet fuel? The shares tanked again after announcement of the dilution.
Talking of failures in bio fuels, I now have strong reason to believe that the US DOE knew in April/May 2011 that Kior could not produce their claimed amount of diesel and gasoline from wood. In February 2011 the DOE and KIOR executed a term sheet for a billion dollar loan. In April 2011 KIOR issued their S1 for their IPO. In May 2011 Kior withdrew their request for the loan. It was not like Vinod Khosla did not want the cheap and free flowing Obama money. It was more like the DOE smelled a rat about the technology. This week I filed a freedom of information act request with the US DOE for documents that relate to the KIOR debacle. Remember Condi Rice joined the board of KIOR in June 2011 and she insider traded shares to make just over $80,000 on the now bankrupt company. The state of Mississippi continues to sue Khosla and his cronies for fraud but did not include Ms. Rice as a named defendant in the case of missing weapons of mass combustion.
I had written a little about KIOR the DOE and smelling rats back in August 2013.
Now I am becoming more convinced that Dr. Stephen Chu, Mr. Jonathan Silver, and Dr. Paul Bryan of the DOE had wind of the lack of potential success of Mr. Khosla thermodynamic fraud in Columbus Mississippi and pulled the plug on the billion dollar loan. They did let Kior claim that Kior wanted out of the loan voluntarily and then Ms. Rice happily joined the board of the thermodynamic fake out a few weeks later.
I liked the wild and crazy guys on Saturday Night Live. I am not sure I can even laugh at the incompetence of Moonbeam as I pay an extra 80 cents a gallon for gasoline.