Posted on 11/22/2010 5:28:16 PM PST by outinyellowdogcountry
ATHENS, Nov 22 (Reuters) - Former U.S. vice-president Al Gore said support for corn-based ethanol in the United States was "not a good policy", weeks before tax credits are up for renewal. Total U.S. ethanol subsidies reached $7.7 billion last year according to the International Energy Industry, which said biofuels worldwide received more subsidies than any other form of renewable energy. "It is not a good policy to have these massive subsidies for (U.S.) first generation ethanol," said Gore, speaking at a green energy business conference in Athens sponsored by Marfin Popular Bank. "First generation ethanol I think was a mistake. The energy conversion ratios are at best very small. "It's hard once such a programme is put in place to deal with the lobbies that keep it going." He explained his own support for the original programme on his presidential ambitions. "One of the reasons I made that mistake is that I paid particular attention to the farmers in my home state of Tennessee, and I had a certain fondness for the farmers in the state of Iowa because I was about to run for president." The U.S. ethanol industry will consume about 41 percent of the U.S. corn crop this year, or 15 percent of the global corn crop, according to Goldman Sachs analysts. A food-versus-fuel debate erupted in 2008, in the wake of record food prices, where the biofuel industry was criticised for helping stoke food prices. "The size, the percentage of corn particularly, which is now being (used for) first generation ethanol definitely has an impact on food prices. "The competition with food prices is real."
(Excerpt) Read more at af.reuters.com ...
Show me an industry or a sizeable business that doesn’t get subsidized. They all do. The agriculture industry subsidies are less than 1/3 of 1% of the budget. I favor doing away with all subsidies, but not selective axing of those the urbanites don’t like. EtOH works and has since WWII. I fear there is a coming confrontation between those in urban areas and those in the rural areas.
I favor doing away with all subsidies too. We are busted and we must cut somewhere, really everywhere. We are in a bad situation and it is getting worse daily. We must force our federal government to quit the spending. How to do that? That is really the question. We are swirling down the drain and no one wants give up their subsidies. Things must change or we are going to lose it all. God help us, greed is a corrosive force and given enough time it will kill us all.
“Currently, using corn to capture solar energy is the best method available in the US to reduce dependence on foreign oil.”
Can you spell Nuclear Power? Corn is feed! Can’t you understand that? I got as high as $155/100 wt. for calves this past week because of idiots that want to burn corn in their car. You will see this crazy price at your supermarket!
I have to think that the best idea is to get the government the hell out of the free market.
“400 gallons ETOH/acre (captured sunlight) is not a swindle. I have no problem with cutting ALL government sudsidies to business, but I do have a problem with the selective cuts when they are promoted by oil energy sources; you know, the competition in the energy business. Don’t get me wrong, I support domestic drilling, nuclear and other viable energy options. ETOH does have a place and has for 40 years. Actually, Hitler ran much of war machine on ETOH. The attacks on ETOH are new, the technology is decades old and more efficient now.”
Yet it still requires a subsidy? Go figure!!
Hey Al, so what other of your policies weren’t “good policies”....hmmmmmmm?
Last time I checked, farmers that raise the corn are free to do with it as they pleased. Are you suggesting that government should confiscate the corn and sell it to you cheap or what? Sounds like you need to get out of the cattle business or try grass-fed beef.
I fully support nuclear energy and domestic oil production. ETOH is a piece of the energy pie and has been for decades. I agree the govt should vacate the free market and ALL subsidies ended.
Any idea what businesses don’t get subsidies? The goal of the subsidy is to build the national infrastructure for ETOH.
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