Friday, December 30, 2011

Hoisted on its own corn stalk?

See the Wall Street Journal article titled, Ethanol in Winter -- Wonder of wonders, the tax subsidy and tariff expire. , which included the text:

The irony is that a fuel that was sold as a global-warming palliative—the industry will use any argument to justify its government lucre—is now being hoist on its own corn stalk. Green carbon fuel standards regulations from the Environmental Protection Agency and in California credit sugar ethanol produced in Brazil with better climate benefits than corn ethanol.

Of the report by the National Academy of Sciences:

In an October report, academy researchers concluded that grain ethanol "could not compete with fossil fuels in the U.S. marketplace without mandates, subsidies, tax exemptions, and tariffs . . . This lack of competitiveness raises questions about the use of government resources to support biofuels."


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