In Greece earlier this month, Al Gore made a startling admission: "First-generation ethanol, I think, was a mistake." Unfortunately, Americans have Gore to thank for ethanol subsidies. In 1994, then-Vice President Gore ended a 50-50 tie in the Senate by voting in favor of an ethanol tax credit that added almost $5 billion to the federal deficit last year. And that number doesn't factor the many ways in which corn-based ethanol mandates drive up the price of food and livestock feed.These politicians remind me of children who have to stick their fingers in lamp sockets to prove that it's a bad idea, and the "environmentalists" aren't much better. Any first year physics student could have told them, if they cared to listen at the time, that making ethanol would use more energy than would be generated by the ethanol. In physics, there is never a free lunch. Everyone must pay the entropy piper. Now, perhaps, we can get rid of yet another subsidy for yet another useless idea.
Summary of the Cliff Notes version.
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