Congressional Cowardice Sustains Ethanol Subsidies

At this moment, $6 billion in annual federal subsidies continue to be paid to American farmers to grow corn for producing ethanol. The ethanol continues to be added to gasoline, creating a mixture which will damage vehicles' engines and result in carbon emissions no lower than those produced by combusting the pure gasoline despised by eco-zealots. The subsidies--our tax money--have also fueled a doubling in corn prices during the worst recession since the Great Depression. And all of this is happening because the people that currently dominate Congress continues to bow before the King Corn lobby and Corn Belt campaign contributors. Robert Bryce provides insight into the moral bankruptcy of Democrats and Republicans who didn't have the guts to end the ethanol subsidies earlier this year. In early July, it appeared that a bipartisan group of senators had come up with a plan to end the 45-cents-per-gallon subsidy almost immediately rather than wait for it to expire, as planned, on Dec....(Read Full Post)