tag:blogger.com,1999:blog-3862216000300765627.post5016710815996516280..comments2024-01-16T03:42:46.705-05:00Comments on The Downward Spiral: Finally, Some Good News: Congress Ends Ethanol SubsidiesBill Hickshttp://www.blogger.com/profile/17551954408189665078noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3862216000300765627.post-88262305505893023862012-01-08T00:20:06.956-05:002012-01-08T00:20:06.956-05:00Another fine limerick, Ben! :)Another fine limerick, Ben! :)Bill Hickshttps://www.blogger.com/profile/17551954408189665078noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-89742761363011246592012-01-07T23:46:15.365-05:002012-01-07T23:46:15.365-05:00OOPS SORRY BILL PLEASE USE THIS ONE INSTEAD TIA:
...OOPS SORRY BILL PLEASE USE THIS ONE INSTEAD TIA:<br /><br />Unexpectedly, corn did fail, <br />So we’re changing the rules to unveil<br />Our next energy sale <br />(This one's sure to prevail): <br />Now you should buy Bakken shale.BenjaminTheDonkeyhttps://www.blogger.com/profile/18304901070197940843noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-28656938417959601002012-01-07T18:16:20.168-05:002012-01-07T18:16:20.168-05:00@bmerson - from the article: "So why did the ...@bmerson - from the article: "So why did the powerful corn ethanol lobby let it expire without an apparent fight? The answer lies in legislation known as the Renewable Fuel Standard (RFS), which creates government-guaranteed demand that keeps corn prices high and generates massive farm profits. Removing the tax credit but keeping the RFS is like scraping a little frosting from the ethanol-boondoggle cake.<br /><br />"The RFS mandates that at least 37 percent of the 2011-12 corn crop be converted to ethanol and blended with the gasoline that powers our cars…[As a result] the current price of corn on the Chicago Mercantile Exchange is about $6.50 per bushel—almost triple the pre-mandate level."<br /><br /><br />It figures. :(Bill Hickshttps://www.blogger.com/profile/17551954408189665078noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-37537694198349424802012-01-07T17:53:26.946-05:002012-01-07T17:53:26.946-05:00Unfortunately, it's a very small step because,...Unfortunately, it's a very small step because, as it so happens, the subsidies are actually less important than the requirements of the renewable fuel standard. In short, the subsidies don't matter because the standard requires a certain amount of ethanol in fuel, which guarantees a market and keeps the prices up. Kevin Drum has a fuller treatment (http://motherjones.com/kevin-drum/2012/01/ethanol-subsidies-not-gone-just-hidden-little-better). In short, they basically just shut down a blatant subsidy and replaced it with a bigger hidden subsidy.<br /><br />The more things change, the more they stay the same.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-28510171735956902822012-01-07T17:28:30.295-05:002012-01-07T17:28:30.295-05:00According to this, we've been exporting ethano...According to this, we've been exporting ethanol:<br /><br />http://blog.american.com/2011/12/energy-fact-of-the-week-exporting-ethanol/<br /><br />The biggest problem may be all the nitrogen-based fertilizer used to grow the corn, which works its way through the ecosystem in a cascade of effects - in other word the damage multiplies.Gail Zawackihttps://www.blogger.com/profile/01800944469843206253noreply@blogger.com