Nov 26, 2010

Al Gore admits corn ethanol was mistake

From a recent Reuters report:

Former U.S. vice-president Al Gore said support for corn-based ethanol in the United States was "not a good policy", weeks before tax credits are up for renewal.

(click on picture to enlarge)

Perhaps Mr. Gore just couldn't find the correct data in his large home office shown above. It's a mess but has a nifty frog hanging on the wall.

The Reuters report continues:

U.S. blending tax breaks for ethanol make it profitable for refiners to use the fuel even when it is more expensive than gasoline. The credits are up for renewal on Dec. 31.

"It is not a good policy to have these massive subsidies for (U.S.) first generation ethanol," said Gore, speaking at a green energy business conference.

It seems that Mr. Gore spent much of his time at the conference explaining the 'greenies' why he was wrong on the effect of corn used for ethanol negatively impacted food prices.