Ethanol production is NOT subsidized, so there goes that part of your argument right out the window.
We aren't "burning up our food supply" either. Over 60% of the corn we grow is exported because the market inside the United States can only use so much. We would have huge surplus of corn and prices would drop to cause unsustainable loss of profit by US farmers without ethanol production.
Then there's the simple fact that the ONLY part of corn that is used to make ethanol is the starch, which is NOT digestible by cattle, and the remnant is brewers grain, which is a very valuable feed stock, worth just as much as the corn from which it is derived.
No, I don't agree that the government should be mandating percentages of ethanol used, but considering the alternative, NOT using ethanol, plays directly into the hands of "big oil", I'm all for farmers making their buck instead of Exxon (and the like) making ALL the profits on gasoline marketed in the US.
The only "financial disaster" I see would be for American farmers if ethanol production was halted. I for one don't wish to see us bankrupted simply because of short-sightedness on the part of those who don't like ethanol.
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