Former U.S. vice-president Al Gore said support for corn-based ethanol in the United States was “not a good policy”, weeks before tax credits are up for renewal.
U.S. blending tax breaks for ethanol make it profitable for refiners to use the fuel even when it is more expensive than gasoline. The credits are up for renewal on Dec. 31.
Total U.S. ethanol subsidies reached $7.7 billion last year according to the International Energy Industry, which said biofuels worldwide received more subsidies than any other form of renewable energy.
“It is not a good policy to have these massive subsidies for (U.S.) first generation ethanol,” said Gore, speaking at a green energy business conference in Athens sponsored by Marfin Popular Bank.
“First generation ethanol I think was a mistake. The energy conversion ratios are at best very small.
“It’s hard once such a programme is put in place to deal with the lobbies that keep it going.”
This is abject. But it’s one reason why the environmental movement struggles for credibility–so much of what they propose just doesn’t make sense, scientific or otherwise.
HT to Greg Griffith at Stand Firm.