Posted by
Always To The Right on Saturday, December 27, 2008 4:04:40 AM
The heavily subsidized ethanol industry is the latest to seek a
federal bailout. If there is any industry that deserves to go bankrupt,
it's this one. Time has come to stop putting food in our gas tanks.
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The bailout-seeking domestic auto industry has been criticized as
being unproductive and inefficient. It hasn't been helped by mandated
fuel economy standards that have done little to reduce our dependence
on foreign energy or help the environment. Now the fuel we have been
mandated to put in our cars, equally unproductive and inefficient, is
also seeking a bailout.
Ethanol never made much sense economically or environmentally. It
never would have made it to market without congressional mandates and
huge subsidies. Having the first presidential contest in the corm state
of Iowa didn't hurt either. With oil prices plummeting, it is even less
competitive — if it ever was.