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Gore Admits Ethanol Subsidies Dumb Idea

cpwill

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But he had to do it because he wanted to be President...

Hey! I know! Let's spend millions and millions (billions?) subsidizing something that takes up farmland, pollutes more than gasoline (requires more gasoline to make) and makes food more expensive for poor people!!!

what could possibly go wrong?



ormer 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.

U.S. blending tax breaks for ethanol make it profitable for refiners to use the fuel even when it is more expensive than gasoline. The credits are up for renewal on Dec. 31.

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...

U.S. ethanol is made by extracting sugar from corn, an energy-intensive process. 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...
 

Diogenes

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Al isn't in the ethanol business; he wants the subsidies to go toward carbon sequestration so our tax money will go to his companies that promise to plant trees as a penance for our carbon footprint. He needs the subsidies to keep his jet flying.
 

VanceMack

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Al isn't in the ethanol business; he wants the subsidies to go toward carbon sequestration so our tax money will go to his companies that promise to plant trees as a penance for our carbon footprint. He needs the subsidies to keep his jet flying.

The Carbon Exchange recently went tits-up too...seems the sheeple can only be fleeced for so much before it starts impacting their Starbucks fund...
 

Deuce

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He's right about the corn lobby. Billions of dollars in subsidies that are pretty important to a politician's reelection chances in those farmland states.

We should really cut those corn subsidies by a large margin, but good luck getting the votes for it. :|

The first time I heard about ethanol I thought to myself that this was a stupid idea.
 

Diogenes

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The Carbon Exchange recently went tits-up too...
That's why Al wants to see the subsidies re-routed from ethanol to his projects. Surely they could make a go of it if only the government would shovel more money in his direction... :roll:
 

VanceMack

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That's why Al wants to see the subsidies re-routed from ethanol to his projects. Surely they could make a go of it if only the government would shovel more money in his direction... :roll:

Shovel...yep...that is the right direction...
 

Diogenes

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Shovel...yep...that is the right direction...

Al's pronouncements (and Obama's credibility) are the only shovel-ready projects we've got...;)
 

American

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Al isn't in the ethanol business; he wants the subsidies to go toward carbon sequestration so our tax money will go to his companies that promise to plant trees as a penance for our carbon footprint. He needs the subsidies to keep his jet flying.

Paper companies are already planting enough trees.
 

mbig

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He's right about the corn lobby. Billions of dollars in subsidies that are pretty important to a politician's reelection chances in those farmland states.

We should really cut those corn subsidies by a large margin, but good luck getting the votes for it. :|

The first time I heard about ethanol I thought to myself that this was a stupid idea.
[Corn] Ethanol was and still is a bad idea. Worse yearly as crop prices go up.

However Sugar Cane Ethanol, such as Brazil uses is Very worthwhile and efficient, producing many multiples of BTUs put in.
Corn is marginal and arguably takes more energy than it produces.
Certainly adding in the other fallout-- Corn Eth is a bad do.
 
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