Just one of the many outlandish reasons we have a debt problem.
Check it out:
The Department of Defense paid $150 per gallon for alternative jet fuel made from algae, more than 64 times the current market price for standard carbon-based fuels, according to a report released on Wednesday.
The Government Accountability Office noted in its report that a Pentagon official reported paying “about $150 per gallon for 1,500 gallons of alternative jet fuel derived from algal oil.”
GAO’s report examined the financial challenges facing increased purchases and use of alternative jet fuels by federal agencies. “Currently, the price for alternative jet fuels exceeds that of conventional jet fuel,” the report noted.
The price for conventional jet fuel is currently $2.88 per gallon. GAO’s report reveals that federal agencies have paid significantly higher prices in an effort to promote biofuels in commercial and military aviation.