Monday, April 28, 2008

Undoing America's Ethanol Mistake

By SEN. KAY BAILEY HUTCHISON Posted Friday, April 25, 2008 4:20 PM PT

The Nobel Prize-winning economist Milton Friedman once said, "One of the great mistakes is to judge policies and programs by their intentions rather than their results."

When Congress passed legislation to greatly expand America's commitment to biofuels, it intended to create energy independence and protect the environment. But the results have been quite different. America remains equally dependent on foreign sources of energy, and new evidence suggests that ethanol is causing great harm to the environment. (link)

Comment: This is a good article by Senator Hutchison. It is about time someone talked common sense about ethanol. She clearly lays out why ethanol was a mistake-it increases food prices, increases greenhouse gasses and creates incentives for global deforestation. Senator Hutchison is introducing legislation that will freeze the biofuel mandate at current levels, instead of steadily increasing it through 2022. Hopefully. common sense can prevail over the desire of feel-good environmentalist to "do something" and the corn-growers financial interest.

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