Are Biofuel Advocates Really Biofools?
Op-Ed: It's crazy to think that American farms can supply enough corn biofuel to make any substantial dent into the energy crisis, columnist John Wasik says. Illinois is America's best place to grow corn, and even if you bulldozed the whole state (including Chicago), you'd only produce 0.8 percent of our currnet annual demand for the stuff. "Those who bet exclusively on ethanol will suffer the same fate as those investors who took the plunge on fiber-optic, Internet and computer-router companies in the late 1990s. They will concentrate their risk when prices are at a peak -- and then get burned... Ethanol is also a sorry stopgap," Wasik said. (Here's a similar argument from a nuclear energy advocate.) So are they correct, and are investors really that nutty and no one did the math? Tell me what you think using the comment form below.