An article! About Al Gore! Who said a THING!
ATHENS, Nov 22 (Reuters) - 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.
"First generation ethanol I think was a mistake. The energy conversion ratios are at best very small.
As he concedes, Gore did support such subsidies in 2000, because he was trying to win the presidency, and, well, he was a politician. Scandal.
His opponent, George W. Bush of course ran on standing foursquare against all farm subsidies, which is why the Republicans totally did that foursquare standing thing in 2005.
Or oh wait.