Monday, July 23, 2007

The Globe Loves Corn Ethanol

The Globe & Mail has two very supportive articles about the benefits of corn ethanol today.

Ethanol's trickle-down effects may be more helpful than you think
...the overwhelming benefits created by ethanol and other biofuels.

Link: Gristmill doesn't like this article. I probably should have mentioned that it was written by an ethanol exec.

Corn again: Iowa finds salvation
But thanks in large part to new demand from ethanol plants like this one, the price of corn has nearly doubled in the past year alone.

Why is the doubling of prices a good thing?

Now, I have nothing against producing ethanol. I just have a problem with producing ethanol on government subsidies.

Update: They also have a debate scheduled for noon EST, phrased in language much less pro-ethanol. The problem is, however, the eternal one about arguing on the internet. Reading the comments appended to the first article should clarify for those who aren't already nodding (or shaking?) their heads.

Update: Eric Reguly, the reporter taking questions, doesn't like corn-based ethanol, though. It is interesting how 'cellulosic ethanol' keeps getting tossed around, but people have been working on breaking that down cheaply for decades without substantial progress towards making it a cost-effective substitute.

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