The Nobel Prize-winning economist Milton Friedman once said, “One of the great mistakes is to judge policies and programs by their intentions rather than their results.”
Texas Senator Kay Bailey Hutchison on the US Ethanol Programme…
“This was a well-intentioned measure, but it was also impractical. Nearly all our domestic corn and grain supply is needed to meet this mandate, robbing the world of one of its most important sources of food.
We are already seeing the ill effects of this measure. Last year, 25% of America’s corn crop was diverted to produce ethanol. In 2008, that number will grow to 30%-35%, and it will soar even higher in the years to come.”
… read an excellent article by Senator Kay Bailey Hutchison. She’s the womany between the cowboys (link here)
Meanwhile In Barbados…
Thank the Lord that one of the first things the DLP did upon assuming power was to kill the plan for ethanol in Barbados.
WE were given millions by the EU to spend on our cane industry. I wonder if we shall ever learn what happened to all that money?
Keltruth Blog: Rice Rationing… in America!