One Last Kick at the Ethanol Jerrycan
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?"