I’ve served up a fairly complete history of ethanol subsidies today, together with precise calculations of what we get for the $8 billion we throw at ethanol annually (the answer is that we get two days of gasoline – that’s all — with the unfortunate side-effect of starving the world’s poor).
I conclude, as always, that the correct course is to put the stake in this vampire’s heart once and for all. The incredible thing is that, for the first time since I’ve been in Washington, we might actually see something good happen with ethanol.
UPDATE: And I’m still attracted by this idea of making mortgages out of corn, or as one commenter suggests, making gasoline out of houses — “housaline” — in order to prop up the real estate market.