November 14, 2011
‘I made a mistake’: Al Gore’s U-turn on corn ethanol as he admits the food-vs-fuel competition is real
November 23, 2010
By Daily Mail Reporter
Last updated at 7:25 AM on 23rd November 2010
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 December 31.
Total U.S. ethanol subsidies reached $7.7billion 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 Mr 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.
November 8, 2010
Steve Milloy at PajamasMedia writes:
Global warming-inspired cap and trade has been one of the most stridently debated public policy controversies of the past 15 years. But it is dying a quiet death. In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading – the only purpose for which it was founded – this year.
Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub of the mandatory carbon trading established by a cap-and-trade law, like the Waxman-Markey scheme passed by the House in June 2009.
At its founding in November 2000, it was estimated that the size of CCX’s carbon trading market could reach $500 billion. That estimate ballooned over the years to $10 trillion.