It is hard to figure out the full cost of the government’s corn ethanol mania. Random observations during the holiday season suggest that they are still larger even than reported already. A full accounting, if it were possible, would sound a cautionary note as a new congress and a new administration consider how to stimulate new energy and E-Tech.
The most believable numbers suggest that the full production costs of corn ethanol use more oil-based energy then it replaces. These numbers are of course, in dispute as they include assumptions about fertilizer production and tractor driving and a twisted maze of hidden subsidies. Holiday packing peanuts are part of the picture....