By Adele Hampton - 03/08/12 08:23 PM EST
The former Speaker of the House was referring to remarks Obama made during his speech at the University of Miami last month where he called for new innovations in energy, saying algae could soon provide a path for lower gas prices.
"You've got a bunch of algae out here," said Obama. "If we can figure out how to make energy out of that, we'll be doing alright.”
Gingrich has used Obama's comment to poke fun at the president and tout his own plan to get gas prices to $2.50 per gallon by way of the Keystone oil pipeline and drilling off the coast of Alaska and the Gulf of Mexico.
"Now, you could have a liquefied natural gas, you could have a lot of things, but for the moment this year, what you have is gasoline," Gingrich said. "The only way you fix the price of this, is be expanding supply ... This is real. It's not a theory, it's not a fantasy, it's not a fundraiser in San Fransisco."
Gingrich spent the day campaigning in Alabama and moves on to Mississippi in anticipation of their upcoming primaries.