e said: (quoted from post at 22:49:25 01/05/10) "But the U.S. ethanol building boom is over. 'It all came to a screeching halt when our friends on Wall Street manipulated the commodity market,' Fagen said"
I think this comment is very valid. We should take notice of what has happened as Wall Street may very well destroy what is left of the American farmer too.
A few years back, I was listening to a discussion on NPR where two "experts" were arguing over if ethanol was really reducing the country's dependence on oil. I thought "ya know, if the net gain from corn based ethanol is so small that we all can't agree that it's reducing the country's oil consumption, I have my doubts that ethanol is really worth all this effort."
I know there is a camp that wants to reduce our dependence on foreign oil. Part of me says, heck, let's drain the middle east. Once it's gone, then they will have absolutely nothing left over there but sand.
At the end of the day, I favor eliminating all the subsidies and tariffs and let corn based ethanol stand on it's own. If it can compete with sugar based ethanol, great. If it can't, than that's the free market at work. Just my $.02
Which came first? The chicken or the egg?
Wall Street or...................
Others would argue that it was ethanol's friends and enemies in Washington and state capitals who did the manipulating over subsidies and mandates.
I would contend that subsidies & mandates created an unrealistic/false house of cards & Wall Street simply speedup up its inevitable collapse.
May see the same thing with electric cars. The batteries are not there.
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