Wednesday, December 28, 2011

Corn Ethanol Subsidy to Expire

Congress ends corn ethanol subsidy

Good news. This was one of the biggest boondoggles in US history. People are upset at wastes of money like the Solyndra "investment" - and rightly so - but the ethanol subsidy with the dollar amounts involved and the willing suspension of belief for political gain dwarfs the green money grab.

Also interesting that this public good was accomplished not by Congress being proactive and fixing a wrong but by Congress being inactive and just letting the subsidy to expire.