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The Ethanol Scam
By Mr Ethanol | August 15, 2007
North Star Liberty:
For a scathing repudiation of the ethanol scam, check out “The Ethanol Scam: One of America’s Biggest Political Boondoggles,” by Jeff Goodell, Rolling Stone magazine, Issue 1032.
Ethanol doesn’t burn cleaner than gasoline, nor is it cheaper. Our current ethanol production represents only 3.5 percent of our gasoline consumption — yet it consumes twenty percent of the entire U.S. corn crop, causing the price of corn to double in the last two years and raising the threat of hunger in the Third World…
So why bother? Because the whole point of corn ethanol is not to solve America’s energy crisis, but to generate one of the great political boondoggles of our time. Corn is already the most subsidized crop in America, raking in a total of $51 billion in federal handouts between 1995 and 2005 — twice as much as wheat subsidies and four times as much as soybeans. Ethanol itself is propped up by hefty subsidies, including a fifty-one-cent-per-gallon tax allowance for refiners. And a study by the International Institute for Sustainable Development found that ethanol subsidies amount to as much as $1.38 per gallon — about half of ethanol’s wholesale market price.
The article goes on to describe ethanol’s technical shortcomings, political sell-outs to big ag, and even how biofuels could be “done right,” if not for the political interests currently pushing corn ethanol…
Topics: Ethanol, Negatives, News |
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August 20th, 2007 at 12:52 pm
The $0.51 goes to the blender not the refiners.
Blenders being big oil who is likely your sponsor.