It's wrong, in every sense. ethanol doesn't help the environment, in fact it uses more energy than it saves. The government knows it and has for years, going back at least to Clinton. Considering the world economy, it's just worse now:
The Looming Food Crisis
Just the preview and title, rest at link:
Quote:
In wealthy nations as well as in poor ones, consumers express alarm about fast-rising food prices, and their governments are well aware that shortages can quickly translate into unrest and political crisis. Complaints today may be mild compared with those looming ahead unless governments take steps to curb policies that encourage speculation, warns economist David Dapice. Subsidies that divert corn to ethanol fuel reduce food supplies and add to price rise. Despite extreme weather events in some exporting nations, per-capita food production has climbed in recent years, he explains, adding that low interest rates encourage speculation, stockpiling and waste. Price hikes are less noticeable for wealthiest consumers whose products carry high marketing and packaging costs, but for the poor it’s a question of survival. Research and technology advances in the agriculture industry may sustain a growing population for only so long. Failure to address the needs of the poor could risk security for all. – YaleGlobal
The Looming Food Crisis
Extreme weather, economic forces of rising demand and speculation threaten global food security
David Dapice YaleGlobal , 18 February 2011
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