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Undoing America’s Ethanol Mistake
By Mr Ethanol | May 7, 2008
Global Warming Hoax:
The Nobel Prize-winning economist Milton Friedman once said, “One of the great mistakes is to judge policies and programs by their intentions rather than their results.”
When Congress passed legislation to greatly expand America’s commitment to biofuels, it intended to create energy independence and protect the environment.
But the results have been quite different. America remains equally dependent on foreign sources of energy, and new evidence suggests that ethanol is causing great harm to the environment.
In recent weeks, the correlation between government biofuel mandates and rapidly rising food prices has become undeniable. At a time when the U.S. economy is facing recession, Congress needs to reform its “food-to-fuel” policies and look at alternatives to strengthen energy security.
On Dec. 19, 2007, President Bush signed into law the Energy Independence and Security Act. This legislation had several positive features, including higher fuel standards for cars and greater investment in renewable energies such as solar power.
However, the bill required a huge spike in the biofuel production requirement, from 7.5 billion gallons in 2012 to 36 billion in 2022.
This was a well-intentioned measure, but it was also impractical. Nearly all our domestic corn and grain supply is needed to meet this mandate, robbing the world of one of its most important sources of food.
Furthermore, the trend of farmers supplanting other grains with corn is decreasing the supply of numerous agricultural products. When the supply of those products goes down, the price inevitably goes up.
Topics: Biofuel, Ethanol, News |
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