Bill Gates on Ethanol

http://www.futureofcapitalism.com/2010/10/bill-gates-on-ethanol

The Microsoft founder reviews a book called Energy Myths and Realities: Bringing Science to the Energy Policy Debate, by Vaclav Smil, published by the American Enterprise Institute:

Smil is appropriately tough on the ethanol crowd. This is one energy approach that is unlikely to ever have a significant impact due to fundamental problems. The fact that the U.S. has subsidized this activity at a cost of $5 billion to $7 billion per year – even as it raises the cost of food – is incredible. The U.S. won't allow foreign ethanol to get the same tax credit, which suggests that the policy is not really focused on the energy benefits of ethanol. A large lobby, which now extends even beyond the corn farmers, manages to keep the policy intact.

by Editor  |  Oct 15, 2010 at 1:02 pm Related Topics:  Energy, Non-Profits receive the latest by email: subscribe to the free futureofcapitalism.com mailing list