Ethanol Follies

There are few better examples today of special interest pork than the government's ethanol policies. Born out of a desire to raise the price of corn for Midwestern farmers by subsidizing the growing of the commodity specifically for ethanol,, the fuel itself has been overhyped, oversold, and hasn't contributed to a reduction of our dependence on foreign oil or in pollutants being spewed into the atmosphere. Rich Lowry explains: Ethanol is to Iowans what marijuana is to Rastafarians: a substance that is considered quasi-holy, but only because it delivers really good times. Presidential candidates become fanatical supporters of the corn-based fuel as soon as they begin to compete in the Iowa caucuses. Before it's over, Mitt Romney might have to promise to use ethanol as pomade and Mike Huckabee - in a naked play for the religious right - to baptize people in the stuff. We will produce 6 billion gallons of corn ethanol this year, on the way to meeting a mandate of 7.5 billion gallons by...(Read Full Post)