"Fiat money is backed by men with guns; Bitcoin is not. So why should this thing have any value?"--Uber statist economist Paul Krugman.
Every fill of the tank with ethanol uses the same amount of corn a child would eat in a year, and let’s not even talk about the amount of potable water used to grow the corn in the first place.
Scientific American had a brief discussion of the relative energy efficiency of celluosic stocks a few months back.I wonder -- alot -- about the effects of corn (and other agricultural) price supports on this entire process. I suspect that withdrawing price supports for food stocks would make the problem alot more stark.
I have been on about this issue for some time.It tends to be a classic issue where political correctness over rides common sense.
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