It takes guts to speak the truth. The "powers that be" have so much invested in ethanol, both intellectually and economically, that they can't bring themselves to admit that we're now dealing with the curse of unintended consequences. Kudos to our senior senator from Texas for not only saying this out loud but also proposing at least some temporary measures to alleviate the escalation of the crisis:
Undoing America's Ethanol Mistake
By SEN. KAY BAILEY HUTCHISON | Posted Friday, April 25, 2008 4:20 PM PT
The Nobel Prize-winning economist Milton Friedman once said, "One of the great mistakes is to judge policies and programs by their intentions rather than their results."
When Congress passed legislation to greatly expand America's commitment to biofuels, it intended to create energy independence and protect the environment.
But the results have been quite different. America remains equally dependent on foreign sources of energy, and new evidence suggests that ethanol is causing great harm to the environment.
In recent weeks, the correlation between government biofuel mandates and rapidly rising food prices has become undeniable. At a time when the U.S. economy is facing recession, Congress needs to reform its "food-to-fuel" policies and look at alternatives to strengthen energy security.
Entire piece is here.
hat tip: Vicki