As Reuters reported:
"It is not a good policy to have these massive subsidies for first generation ethanol," said Gore, speaking at a green energy business conference in Athens, Greece. First generation ethanol refers to the most basic, but also most energy intensive, process of converting corn to ethanol for use in vehicle engines.Alas, half of the GOP senate thinks they’ll be a presidential nominee in 2012 — about the same number of Democrat senators assume it’s possible for 2016; pandering to foolish farm state subsidies is a bipartisan effort. (Perhaps the GOP House members will live up to their budget-cutting claims.)
"First generation ethanol I think was a mistake. The energy conversion ratios are at best very small," he said, referring to how much energy is produced in the process.
The U.S. ethanol industry will consume about 41 percent of the U.S. corn crop this year, or 15 percent of the global corn crop, according to Goldman Sachs analysts.
So while it would be nice to end the ethanol craziness, it seems like things are going to get worse before they get better.