ethanol plant being built in Texas where there is no corn
To reiterate our point that ethanol is used most effectively shaken, not stirred, with a touch of vermouth, we present three articles for your Sunday reading:
New York Times: With oil prices at $70 a barrel sharply lifting the prices paid for ethanol, the average processing plant is earning a net profit of more than $5 a bushel on the corn it is buying for about $2 a bushel,. And that is before the 51-cent-a-gallon tax credit given to refiners and blenders that incorporate ethanol into their gasoline. "It is truly yellow gold,"
Robert Rapier on investing in ethanol: "Maybe someday cellulosic ethanol – the much touted next generation of ethanol technology – will warrant these kinds of valuations. I have great hope for cellulosic ethanol, and believe it can eventually make a contribution. But for now, I don’t think the underlying fundamentals warrant the valuations placed on grain ethanol producers – especially those far from corn supplies."
Alternet: "Is turning food into fuel as millions starve to death really the ethical answer to our oil addiction?"