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Ethanol’s A Farce And We’re Our Own Worst Enemy When It Comes To Energy Alternatives
By Mr Ethanol | November 16, 2007
Money Morning:
For months we’ve heard nothing but great things about ethanol.
And true to form, the experts here at Money Morning have ignored most of the resultant investor buzz.
The truth is that ethanol’s a farce and we’re our own worst enemy when it comes to refining the technology anyway - literally.
For one thing, ethanol - in its current state - is anything but the road to energy independence. Sure it can help out, but even if we were to convert 100% of available corn crops to ethanol production, our gasoline dependence would drop a mere 12%.
In order to get some serious leverage, and truly displace gasoline in this country, we’d need 120% of all available cropland - meaning we’d give up planting anything else. No beans, no fruits, no potatoes … you get the idea.
Here’s another fact most folks riding the ethanol bandwagon seem not to know: Because the U.S. government required oil refineries to use more than 4 billion gallons of ethanol last year - regardless of how much it actually cost - wholesale prices were more than double the cost of conventional gasoline. And that doesn’t even include the costs of delivering the ethanol, which boosted its “real” price even more. Read full article.
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