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Barry Ritholtz

Enough With Ethanol

Turning corn into fuel is a huge waste that needs to stop.
It might be headed for your gas tank.

It might be headed for your gas tank.

Photographer: Scott Olson/Getty Images

With the Iowa caucuses now blessedly behind us, we can discuss a more serious subject: The engine-destroying, food-burning, anti-free-market program that is corn-based ethanol.

Why we still subsidize turning food into an inefficient fossil-fuel substitute is anyone’s guess -- but mine is that the first-in-the-nation Iowa caucus has been the main reason. Anyone who wants to be president simply can't risk pointing out how ruinous and wasteful ethanol is, lest they get punished by the Iowa corn producers.