New CBO study on ethanol
April 13, 2009Lynne Kiesling
If you are interested in the ongoing scientific, economic, and political sturm und drang around ethanol, fossil fuels, and food, this WSJ Environmental Capital post alerts us to a new study from the Congressional Budget Office claiming that ethanol production was only responsible for 10-15% of the increase in food prices in 2007-2008. Increasing energy prices are responsible for a larger share of the price increase, according to the study. Other interesting tidbits in the post.
I think the bigger point of the study shows what a huge rip-off ethanol is for the taxpayer (as if we didn’t know already). When this boondoggle requires that type of a break even, it should be obvious to all that ethanol is a lousy idea.
The Ethanol is the fuel of the future!!