Hi Wayne,
I agree with your comments, but would add ....
Now we know Ethanol is a "loser" in terms of energy. Takes more to produce than we get back as a motor fuel.
Was pushed through by then Sen. Bob Dole - you know how that politics goes, and the rage was to "save our farmers".
Thanks to the Internet !!!!!!!!!
If, 20 years ago when it started, and I read a piece in the newspaper and was asked to vote on it, I may have favored it !!!??? But now, we have much more information, and readily available.
But, in the "overall scheme of things" I wonder if that 5 billion is really that significant to the "farming community" as a whole. It certainly created a "wasteful" inefficient industry as far as motor fuels are concerned.
What was the effect at the gas pump and the economy ?? New refinery processes, blending etc. New gas pumps/tankage for the E85 crap, research/development on the effects on auto engines and fuel systems ....... and on and on it goes ...
Farmers will do fine at the $4 level and I think the free markets will ensure that.
My 2 cents,
Lee