This just illustrates how little you understand about...
...technology, and how it develops over time. I suggest you have a chat with a chemical engineer, or perhaps someone with a lot of experience in the oil & gas industry before posting more drivel.
At one point, when we were using coal to power ships, we subsidized such developments to switch to oil. This is no different. If at some point it can become more cost effective to product fuel from algae/seawater, then we will at least have researched it properly. Keep in mind that many military officials have asked for some of these cutbacks. Keep up with the literature and you may actually be informed.
Of course, politicians such as McCain will be vocal critics of any sort of green alternatives since he is owned by big oil.