Posted on 09/30/2007 10:16:40 AM PDT by cool2007
TEL AVIV (MarketWatch) -- A glut of ethanol, prompted by poorly planned overexpansion of distillery capacity, has driven down prices for the fuel 30% in four months, The New York Times reported. That overexpansion, in turn, calls into question whether ethanol will reduce the U.S.'s dependence on foreign oil, as President Bush and other policy makers hope, the paper reported. The rush to biofuels drove up prices for corn -- a basis for ethanol -- and other foods, and prompted the construction of many distilleries, the paper reported. But transporting the fuel from the Midwest to the coasts has proved difficult, the Times reported.
(Excerpt) Read more at marketwatch.com ...
Stupid is as stupid does.
“prompted by poorly planned overexpansion of distillery capacity...”
Sounds like they want to socialize the ethanol industry now. In a market system, there is no planning on a market-wide basis.
Anybody checked meat prices lately? Looks like the plan for sky high food is working. How long before the lefties write the story about how much more CO2 alchohol prodcues over regular old gasoline — Like they did recently in the UK press.
Most things liberal turn out to be a hoax. CFCs causing the ozone hole is just the latest Liberal feel good hoax to be exposed.
Government-subsidized moonshine production.
And to imagine, some eighty years ago, government agents were running all over the hills and backwaters of rural America and SMASHING home stills.
With all this ethanol production apparently at a glut, maybe we can get everybody out on a drunken binge. And invite in our Muslim neighbors and force a couple drinks on them too.
Followed with some pork barbeque....
Fuel prices fall 30%. Women and minorities hardest hit.
When will we learn to let market forces determine where energy comes from?
Can ethanol be converted to good-natured alcohol?
“prompted by poorly planned overexpansion of distillery capacity...”
Just practicing for the day when they take over our health care. Construction of hospitals, clinics and other health care facilities will be based on where the most influential senators want them rather than where the people who need health care are located.
If Senator Byrd is still alive we will all have to travel to West Virginia for flu shots.
The 30% decline is for the spot market, which accounts for so little ethanol production that it is irrelevant.
Americans pay about half as much as the rest of the world, mostly due to taxes. The next President and Congress will almost certainly jack up American fuel taxes, keeping ethanol and other alternatives “competitive”.
This problem just requires more subsidies and mandates to solve. Politicians (mostly Dims) want to control energy investments. There is no energy problem that they cannot solve.
From Fox news: Cory Neddermeyer, 42, was dismissed by Amaizing Energy in April. The Denison-based company produces ethanol fuel for vehicles in a formula that includes a high concentration of alcohol.
According to Neddermeyer, he showed up for work on April 21 and saw that there had been a spill of fuel alcohol. Hundreds of gallons of 190-proof alcohol were held in a 6-inch-deep holding pond that was about 30 feet by 24 feet.
The liquid had not been blended with gasoline.
“I am a recovering alcoholic, and I thought about the availability of this alcohol throughout the day,” he wrote in a statement later provided to state officials. “Curious about the taste and its effects, I dipped into this lake of liquor and drank what I considered to be 2 to 3 ounces. The next thing I remember is waking up in Crawford County Memorial Hospital.”
Should have added that he was taken to hospital because he was drunk as a skunk.
“A glut of ethanol, prompted by poorly planned overexpansion of distillery capacity,”
And just about every food product has gone up in price becuase of this.
Foolishness..
I filled up with an ethanol blend last week, and the gas mileage in my hybrid went way, way down. Is this stuff supposed to be good for something?
>>A glut of ethanol<<
sounds like its time for a party.
Purple passion punch for everyone.
Maybe we can go back to using corn to feed cattle and bring down cheese, milk and meat prices.
Is this stuff supposed to be good for something?
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It’s good for buying Iowa and Nebraska votes...
Thats pretty much it.
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