11/22/2010

On second thought, Al Gore confesses that he shouldn't have supported Ethanol

Thanks, Al, it would have been nice if you had admitted this when you were in a position to do something about it.

Former U.S. Vice President Al Gore reportedly has had a change of heart on ethanol, telling a conference on green energy in Europe that he only supported tax breaks for the alternative fuel to pander to farmers in his home state of Tennessee and the first-in-the-nation caucuses state of Iowa.
Speaking at a green energy business conference in Athens sponsored by Marfin Popular Bank, Gore said the lobbyists have wrongly kept alive the program he once touted.
"It is not a good policy to have these massive subsidies for first-generation ethanol," Reuters quoted Gore saying of the U.S. policy that is about to come up for congressional review. "First-generation ethanol I think was a mistake. The energy conversion ratios are at best very small.
"One of the reasons I made that mistake is that I paid particular attention to the farmers in my home state of Tennessee, and I had a certain fondness for the farmers in the state of Iowa because I was about to run for president," the wire service reported Gore saying.
Credits for corn ethanol subsidies expire at the end of the year unless Congress moves to renew the $7.7 billion annual program. Opponents of the corn subsidies say that it removes valuable food products from the table because the U.S. ethanol industry drives up the price of corn. . . .

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