Monday, June 08, 2009

Force feeding corn to the economy

According to Commentary magazine, the Obama administration is attempting to raise the percentage of ethanol in mixed gasoline from 10 to 15 percent. Oh brother. Nevermind that it will further increase food prices by artificially increasing the demand on corn which is in, well, everything, it won't even accomplish the purposes it's designed to accomplish:

One of the plans being considered by the Obama administration is to raise the ethanol content of blended gasoline from 10% to 15%. Apparently, this is being done to reduce our dependency on foreign oil, decrease pollution, and stimulate the domestic economy. What’s unclear is precisely how this is supposed to work.

Read the rest here.

1 comment:

Art said...

Thayer misrepresents the article regarding corn prices. Somehow, I'm not very confident in the rest of the assertions in his article.