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The recipe for one of the most infuriating thing that I have heard in a while

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October 18, 2008 – Comments (4)

Take the government's absurd ethanol blending mandates and import tarriffs 

Mix in the current climate of bailing everyone and their mother out after they have made stupid mistakes  

Stir well 

And Ta-Da we have one of the most infuriating things that I have heard in a long time...and that's saying something with everything that has gone on lately. 

U.S. might pay ethanol plants for corn losses  

"The U.S. Department of Agriculture may use its rural development money to assist ethanol plants that have suffered losses in the volatile corn futures markets, Agriculture Secretary Ed Schafer said Friday in Des Moines.

"Some plants are under pressure because they've been speculating on corn," Schafer told reporters after speaking at the World Food Prize symposium breakfast...." As if it wasn't bad enough that ethanol produced from corn is a completely worthless source of energy that only exists because the government has passed laws mandating its existance and preventing foreign competition, now the government is considering giving money to the ethanol producers who have lost big bucks in the futures market.  Where can I apply to be reimbursed for my losing trades?  Good grief.  

U.S.Agriculture Secretary Ed Schafer speaks at a World Food Prize breakfast Friday morning in Des Moines where he stated that the government might help ethanol plants harmed by falling prices.

Deej

4 Comments – Post Your Own

#1) On October 19, 2008 at 2:20 PM, gman444 (28.81) wrote:

LOL--yeah, I'm waiting for that govt. check to reimburse me for my losses---meanwhile, I'm happy to send a few thousand to Lehman Bros.,--hear they need the cash...

The stupidity of how we have handled ethanol is incredible, and maybe this will be a prototypical icon of this administration.   Brazil showed the world how to do it, and we have shown the world how not to. 

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#2) On October 19, 2008 at 2:21 PM, gman444 (28.81) wrote:

Hopefully, our policy will change with the next administration....

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#3) On October 19, 2008 at 9:14 PM, TMFDeej (99.40) wrote:

Not likely, Obama is in bed with the ethanol companies.  They have been huge contributors to his campaign.  While I am no McCain fan, one of his better atributes is that he is fairly anti-ethanol.

Deej 

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#4) On October 20, 2008 at 12:19 AM, gman444 (28.81) wrote:

I didn't know that--thanks, Deej.  The next question it brings to mind is whether Obama will be in the camp of presidents who pander to their big contributors or turn on them?

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