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Monday, November 22. 2010

Biggest "Never mind" of the year

Al Gore finally admits that ethanol never made any sense. He says:



“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.”


Everybody has known for years that it's just a boondoggle for Iowa corn farmers.

Posted by The Barrister in Hot News & Misc. Short Subjects at 14:53 | Comments (4) | Trackbacks (0)

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So Algore admits that a significant part of the reason for his supporting ethanol subsidies is because he wanted to get in good with Iowa farmers - in other words, he's admitting he was bribing them with other people's money.

I don't generally have much respect for him, but I have to say that I admire his candor here. I doubt the MSM will make any note of it. The cynic in my thinks that expectation played a part in his decision to be honest.
#1 mudbug on 2010-11-22 14:58 (Reply)
Of course, now that the plan has worked and he's got rich off the subsidies to various biofuel companies it's time to get biofuel out of the limelight, villified as bad for the environment, and at a time of his choosing launch something else that can be milked for all the billions it's worse before it goes the same way, the way of the dodo.
#1.1 J.T. Wenting on 2010-11-23 01:19 (Reply)
A process which throws out a significant proportion of the biomass generated in growing corn was inherently uneconomic, and thus inherently a boondoggle.

I would not be surprised to find out that the Goreacle has cashed out all his investments in Green Energy to exchange for greenbacks.
#2 Gringo on 2010-11-22 16:58 (Reply)
You have to know that the only reason this "industry" got off the ground at all is because of the subsidies. Nobody looking to make a profit would consider producing ethanol for motor fuel. And no sane bureaucrat would create a policy to use food as motor fuel. It just shows you how far our government has jumped the tracks.

This is only one great argument for free markets over central planning, but its a really great one!
#2.1 mudbug on 2010-11-22 18:01 (Reply)

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