GREENSPAN ON ETHANOL: "Corn ethanol, though valuable, can play only a limited role, because its ability to displace gasoline is modest at best."
Greenspan's reasoning is using corn (the Grain) is taking food off the table but cellulose using the stalk from corn or the straw from any of the grains is another story. He was all for the cellulose form of fuel.
By taking the corn for fuel you are taking it from feeding animals and food production.
Here is a link to the full speech:
theoildrum.com
"Current oil prices over time should lower to some extent our worrisome dependence on petroleum. Still higher oil prices will inevitably move vehicle transportation to hybrids, and despite the inconvenience, plug-in hybrids. Corn ethanol, though valuable, can play only a limited role, because its ability to displace gasoline is modest at best. But cellulosic ethanol, should it fulfill its promise, would help to wean us of our petroleum dependence, as could clean coal and nuclear power. With those developments, oil in the years ahead will remain an important element of our energy future, but it need no longer be the dominant player." |
