“Completely Wasteful”: Steven Rattner Slams Govt. Support for Corn Ethanol
"In addition to $6 billion in direct government subsidies, Rattner notes the "real" cost to American consumers is much higher. Thanks to mandates requiring certain amounts of ethanol be blended into gasoline, about 40% of U.S. corn production is diverted toward ethanol. That, in turn, drives up the price of feed for cattle and pig, which puts upward pressure on food prices. In the past year, corn prices have doubled while the price of bacon is up 24%, Rattner notes.
Citing these "hidden costs" of mandates, the government's corn ethanol policies are a "much more pernicious force" then even most critics realize, he says.
All this despite studies suggesting corn ethanol is energy inefficient — meaning making a gallon the fuel consumes more energy than it produces."
sulit Is this the same ratner who was involved with the hevesi case in NY? Can't be an expert in all facets of life. Why don't you consult or peruse the AVRN board for a more complete understanding of a solution which is vital to our national security and our countries well being. Mixtures of alcohols work quite satisfactorily in automobiles,especially in Brazil. You should ignore the propaganda presented by the oil cartel and their constituents who have mislead all of us. This first generation of alcohols is just the beginning of a newer and more productive second generation product. Monies spent helping farmers eke out a living is more productive than spending monies bailing out criminals who cheated and fooled unsuspecting citizens and shareholders out of live-long savings.