Biofuels: From Hope to Husk. By Kevin Allison, Financial Times (UK), October 21, 2008. "Investors in the ethanol industry] have collectively lost billions of dollars. Despite the billions more in taxpayers' dollars that was spent to subsidise it, ethanol now eats up nearly one-quarter of the US corn crop without so far fulfilling the hopes held for its beneficial effect either on the environment or US dependence on foreign energy. It may have helped keep gasoline prices lower in the world's wealthiest nation, but a growing band of influential critics say it has also contributed to higher food prices in the world's poorest countries… In short, the story of ethanol is a cautionary tale of the unintended and costly consequences that can arise when the interests of politicians and influential industries collide. Today, ethanol is a $32.5 billion a year business in the US."
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