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Thread: The Great Ethanol Scam
06-13-2009, 08:41 AM #1
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The Great Ethanol Scam
I wanted to link to this article from Ed Wallace in Business Week.
The Great Ethanol Scam
Not only is ethanol proving to be a dud as a fuel substitute but there is increasing evidence that it is destroying engines in large numbers
"Does the average citizen understand what this means? In from 10 to 20 years this country will be dependent entirely upon outside sources for a supply of liquid fuels … paying out vast sums yearly in order to obtain supplies of crude oil from Mexico, Russia, and Persia."—Yale Professor Harold Hibbert, ethanol promoter, 1925
More than one major transportation-based industry in America besides Detroit is on the ropes. For the fourth time in our history the ethanol industry has come undone and is quickly failing nationally. Of course it's one thing when Detroit collapsed with the economy; after all, that is a truly free-market enterprise and the economy hasn't been good. But the fact that the ethanol industry is going bankrupt, when the only reason we use this additive is a massive government mandate, is outrageous at best.
Then again, the ethanol lobby and refiners have a solution to ethanol's failure in America: Hire retired General Wesley Clark as your point man and lobby the government to increase the amount of ethanol in our fuel to 15%. The problems with that proposition are real—unlike ethanol's benefits.
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