Plan B: Algae
Link to CNBC's interview with Harold Hamm, CLR/CEO on the Kudlow Report.
Responding to President Obama’s comments earlier in the day in which he called his critics part of “the Flat-Earth Society,” Hamm expressed surprise.This is the same president who said he was going to kill the coal industry, so, yes, I believe, he would say that (about horizontal drilling). Not only say that, but believe it. I don't think the president needed a speechwriter to come up with that line about flat earthers.
“The technology that’s out there today, what we’re doing with horizontal drilling, unlocking a virtual renaissance of new development of oil and gas in this country, I can’t believe the president would say anything like that,” he said. “We’ve obviously brought drilling into another realm, whole new paradigm.”
The President's Plan B -- algae -- was not mentioned.
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On March 2, 2011, I discussed "the Stephen Chu effect," in which I mentioned the administration had no "Plan B" if oil prices spiked. I was wrong then. It turns out the president always had a Plan B: algae.
