Reuters Reports that Al Gore now admits that:
- Subsidies for corn based ethanol “not a good policy”
- Subsidies drove food prices up worldwide, (significant in Mexico and developing nations that use corn base products as a main staple)
- One of the reasons he (Gore) pushed for corn ethanol subsidies was to buy votes for his presidential bid. YES HE SAID THAT. “One of the reasons I made that mistake is that I paid particular attention to the farmers in my home state of Tennessee, and I had a certain fondness for the farmers in the state of Iowa because I was about to run for president.”
- The energy conversion ratios for corn ethanol “are at best very small”.
- Now that the subsidies are in place, that “It’s hard once such a program is put in place to deal with the lobbies that keep it going.” Meaning that it will be very hard to end this waste, even though even Al Gore himself now admits that it isn’t working.
Read the Reuters article HERE.
And this guy ran for president…