...unless you're a corn farmer.
Right now, ethanol production consumes about forty-percent of the American corn crop. Next year, the government will require oil companies to blend in even more ethanol, and when you consider the impact of Midwestern floods and Sothern draught on this years crop, don't be surprised to see the cost of gasoline start rising because of the cost of ethanol (along with crude oil). We have already seen increases in everything from cereal to meat to anything containing corn syrup because of "ethanol competing with eating." Regardless of diverting a large portion of our crop land to energy production, we may soon be importing ethanol, just as we import oil.
That assumes, however, that the federal ban on importing ethanol expires along with the billions in subsidies we currently still pay to subsidize the ethanol industry and oil companies to blend it in.
The only thing funnier than Dick Durbin defending free cellphones for welfare recipients is a "fiscal conservative" like Charles Grassley explaining how ethanol subsidies are so essential to the nation. As is the case in all industries, we need to get the government out of their bed and let them sink or swim on their own. If the American ethanol indistry cannot compete, it needs to fold.
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