Wednesday, March 07, 2007

Brother Can You Spare Some Corn?

Spenders of federal tax dollars are going hog-wild on corn trying to make ethanol. This is all wrong and Kentucky would do well to stay out of this -- as far as our tax dollars are concerned.

Corn has nearly doubled in price in the last year. Farmland prices are escalating as more people scramble to join the parade. This mania will doubtless lead to a cornflation we don't need. Meanwhile, the science behind the panic to run our economy on ethanol makes man-made global warming look like a round earth, gravity happens dead certainty.

Seriously, follow the smart money. If we were really going to replace oil with ethanol, Exxon would have already bought South America and turned the entire continent into sugar cane.