We should increase our development of alternative fuels, taking advantage of renewable resources, like using corn and sugar to produce ethanol or soybeans to produce biodiesel.
We are not trying to prevent new clean energy businesses from succeeding. Any business that's economical, that can succeed in the marketplace, any form of energy, we're all for. As a matter of fact, we're investing in quite a number of them, ourselves - whether that's ethanol, renewable fuel oil.
It's extraordinary how inventive one can be with ethanol right now.
Corn ethanol can help in the short term, but it has serious limitations, and none of this is going to work if we don't dramatically improve the efficiency of our cars and trucks.
In the course of the 1920s and 1930s, great progress was made in the study of the intermediary reactions by which sugar is anaerobically fermented to lactic acid or to ethanol and carbon dioxide.
Corn is already the most subsidized crop in America, raking in a total of $51 billion in federal handouts between 1995 and 2005 - twice as much as wheat subsidies and four times as much as soybeans. Ethanol itself is propped up by hefty subsidies, including a fifty-one-cent-per-gallon tax allowance for refiners.