Friday, January 13, 2012

"Uncle Sam and ethanol" Chicago Tribune

"Back in the boom time of the mid-2000s, technology entrepreneur Vinod Khosla led an investment group that convinced the Feds to put up $46.3 million in grants and $42 million in loan guarantees for a factory in Georgia that would turn wood pulp into ethanol.
The plant went bust last year. The shuttered facility has just been sold for $5.1 million … to another Khosla-affiliated group, which pledges to use it for a different alternative fuel operation. No wonder Khosla is a billionaire and Uncle Sam is $15 trillion in debt."

"The practice of turning grain into fuel has pushed up food costs across the globe. It's fair to say that everyone on the planet indirectly pays a tax to support the ethanol plants chugging away across the rural U.S. Food is too scarce for corn ethanol to continue expanding at its accustomed pace."

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