Burn our food as gasoline. Brilliant. Farmers love it of course, because, like 99% of Americans, they love government handouts. But growing corn consumes a lot of diesel fuel. Transporting corn consumes a lot of diesel fuel. And turning corn into fuel consumes a lot of electricity... which is produced by burning coal and natural gas. Which makes ethanol a huge money loser without government support. Washington's ethanol plan is taking its only natural course: Bankruptcy. As this excellent WSJ opinion piece outlines, most ethanol players have gone belly up. So guess what is on the way from our "bigger government is better" president? You guessed it: More money and more support. Read full article...
Wishfull thinking can be dangerous . Wall street That's pretty much the story of ethanol. Consumers were asked to suspend disbelief as policy makers blurred the lines between economic reality and a business model built on fantasies of a better environment and energy independence through ethanol. Notwithstanding federal subsidies and mandates that force-feed the biofuel to the driving public, ethanol is proving to be a bust. - the market economy rules not wishful thinking Sht
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