The corn ethanol story is the pick of the litter for oil companies and all other liars that infest the "preserve the carbon owners" lobby. It is that corn is the WORST way to produce ethanol and the only reason it is subsidized is that it is a big vote getter in the midwest.
There are a great many biofuel sources that are economically superior to corn and much friendlier to the planet. But these do not get the votes of the current majority of the farmers who inhabit the midwest. Quite simply, the alternatives do not compete with food crops and it is a double whammy for the midwest framers. Pull the subsidy and the price of corn, wheat, alfalfa, and all the rest go down too. And these guys have a loan at the bank for the new tractor. And the ability to pay was/is based on income from anticipated subsidized prices. OUCH!
continued at Daily Kos...
