Free Republic

Ethanol stirred Wall Street last week when the second-largest ethanol producer went public, a sign that the corn-based fuel has become hot as gas prices soar. In its first day of trading, VeraSun Energy Corp.'s stock jumped 30% to $30 a share. Production capacity of ethanol in the U.S. has more than doubled since 1999, and the total number of ethanol plants has nearly doubled as well, to 97, with at least 30 more under construction. In April, Bill Gates, chairman of Microsoft Corp., bought a large stake in Pacific Ethanol Inc., which produces ethanol. Wal-Mart Stores Inc. recently said...

Never say Congress isn't willing to accept blame -- as long as it can assign it to someone else. Having mandated the use of the fuel additive MTBE, the Members now want to shake down the companies foolish enough to have made the product. This is the real story behind the debate over MTBE, which has once again become the sticking point in the House-Senate conference over the energy bill. The House has passed modest liability protection for MTBE makers, while Senate Democrats are threatening a filibuster if there's any such thing in the final bill. If we're lucky, the...