31st May 2008

E85 Boondoggle of the Day: No Surrender for Federal Subsidies!

posted in Car News Articles |

“Agriculture Secretary Edward T. Schafer is preparing to walk into a buzzsaw of criticism over American biofuels policy when he meets with world leaders to discuss the global food crisis next week.” Ouch! Clearly, The New York Times is through pulling is punches on America’s corn-fed bio-fuel bonanza. The majority of their article “Food Report Criticizes Biofuel Policies” is dedicated to a report criticizing biofuel policies (strangely enough), But before the knife is twisted (“The Agriculture Department’s own longtime chief economist, Keith Collins, who retired in January, said that ethanol was the ‘foot on the accelerator’ of corn demand), Secretary Schafer wants his constituents (corn growers) to know he’s got their back. By his department’s reckoning, biofuel production accounts for “only” two to three percent of the increase in global food prices, while reducing crude oil consumption by a million (a million!) barrels a day.”We think that policy-wise in the United States of America — and certainly in the rest of the world — as we see the price of oil and petroleum escalate dramatically beyond anyone’s imagination, that one of the ways to deal with that is to produce biofuels which are renewables, better for the environment and help lower that cost.” So E85 reduces gas use (although it increases gas use) and helps the environment (although it hurts the environment). Let the price supports begin! Oh wait…

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