Ethanol Fraud
A good article on the current rush to replace dirty old mideastern oil with nice, clean midwestern corn. Unfortunately this is all a huge fraud, and a scam on taxpayers and consumers. There is probably lots of similar information around, but this one covers it pretty well: There Are Big Problems With Ethanol, Namely Corn Supply. I guess the only sensible thing to do at this point is buy Archer-Daniels Midland stock.
posted by Dr. Steven Morphy-Godchaux III at
10:07 AM
3 Comments:
Ran across this interesting info:
According to the Cato Institute, a Libertarian think tank, "ADM has cost the American economy billions of dollars since 1980 and has indirectly cost Americans tens of billions of dollars in higher prices and higher taxes over that same period. At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its ethanol operation costs taxpayers $30."
From: Bovard, James. "Archer Daniels Midland: A Case Study In Corporate Welfare". Cato Policy Analysis No. 241. CATO Institute. September 26, 1995.
By
Dr. Steven Morphy-Godchaux III, at Tue Mar 13, 10:18:00 AM CDT
OK, so we're saying that ethanol is a waste of time, gas is the way to go. Sounds good to me, so what's the problem with drilling for more oil in this country? You can't be against ethanol and gas (unless you want to ride your bike everywhere). You can make ethanol from lots of things, not just corn. Ask Brazil. They do it with sugarcane.
By
Murphy "Mac" Morphy, at Wed Mar 21, 11:41:00 AM CDT
And that is exactly the issue! Brazil makes ethanol much cheaper than we ever could. But guess what? There is a $0.50 a gallon tax on importing the stuff to the US. Not sure if this protectionist tarriff is to the benefit of the oil companies, big agribusiness, or the good people at Taaka vodka (maybe all of them are in cahoots on this one).
Import Brazillian Ethanol now!
By
Dr. Steven Morphy-Godchaux III, at Thu Mar 22, 04:34:00 PM CDT
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