The Wall Street Journal today offers a front page piece on the increasing concerns about corn-based ethanol, and it's no panacea.
"Little over a year ago, ethanol was winning the hearts and wallets of both Main Street and Wall Street, with promises of greater US energy independence, fewer greenhouse gases and help for the farm economy," the article entitled Ethanol Craze Cools as Doubts Multiply begins. "Today, the corn-based biofuel is under siege."
The critique by the WSJ citing air pollution and water consumption concerns comes as corn prices have increased and overall ethanol profits are at a two year low.
In a little over a month Missouri's ethanol mandate, approved in 2006 as HB 1270, will take effect localizing the problems the WSJ cites.
“I am pleased to sign this bill giving Missourians access to the affordable, homegrown gasoline they want and that they can be proud to use when they fill their tanks,” Gov. Matt Blunt said in a 2006 press release regarding the bill signing. “This renewable fuel standard benefits consumers, our economy, the environment, and Missouri farmers.”
Blunt advocated the legislation primarily for economic development, even as existing producers received an average of 60 cents in subsidies for each gallon of ethanol produced.
Stay tuned to MPN for the latest on Missouri's ethanol policy in a series of upcoming reports.
Wednesday, November 28, 2007
Wall Street Journal: Corn-based ethanol not a panacea after all
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1 comments:
Where in state government do you work? You can run but you can't hide!
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