Green-energy plant sucks up subsidies, then goes b

[EmptyTimCup]

Green-energy plant sucks up subsidies, then goes bust

Last month, the refinery closed down, having failed to squeeze even a drop of ethanol out of its pine chips.

The Soperton, Ga., ethanol plant is another blemish on ethanol's already tarnished image, but more broadly, it is cautionary tale about the elusive nature of "green jobs" and the folly of the government's efforts at "investing" -- as President Obama puts it -- in new technologies.

Late in the Bush administration, corn-based ethanol started to get a bad rap. Corn for ethanol was crowding out other crops, and food prices were soaring. Mexicans rioted as tortilla prices spiked. So Bush started talking up "advanced biofuels" including "cellulosic ethanol": roughly, ethanol distilled from plants that were not also food products. Bush mentioned wood chips and switchgrass in two consecutive State of the Union addresses

Georgia politicians saw an opportunity here. "The Saudi Arabia of Pine Trees" became an unofficial state motto among Peach State politicians, and Gov. Sonny Perdue declared, "I'm confident the bioenergy industry and sector is going to be a cornerstone of the new Georgia."

Read more at the Washington Examiner:

 

[Larry Gude]

Corn ethanol had a bad image from day one, not just starting late in Bush's presidency. It was never a good idea.

There was a special on it, I guess 60 minutes, way back where the people who were getting into it in Iowa, converting their farms to produce ethanol, were getting knocked for it by all their neighbors because it was such a bad idea in terms of the simple facts of the matter; it is an incredibly inefficient source of energy.

So, the subsidies roll in, blood is squeezed from a turnip and the rise in corn prices benefits all, including those nattering nay-bobs of negativity who thought it wouldn't work. All except, of course, those who get to foot the bill.

This is the core of the Obama economy, the same ideas.

Ahhh...the power of government.

 

[Gilligan]

There was supposed to be a big lawsuit going forward against the Federal Gummint on behalf of marine engine manufacturers and boat builders for the huge costs of ethanol damage to the marine industry. I need to dig that up and see where its going....