Now Big Al has come clean. Sort of.
Gore: On second thought, I was just pandering to the farm vote on ethanol « Hot Air
- 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.
Of course, the worst thing is that all the investments and venture capital that has gone up in global warming smoke and mirrors is not available to do something really good and worthwhile to restore the economy.
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