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To: elmatador who wrote (85126)	12/28/2011 3:13:49 AM
From: arun gera	Read Replies (3) \| Respond to of 217656

>water, energy, food, population this is what makes a wealthy country.> That should have made USSR wealthy...I would rather agree with MQ that rule of law and innovation are very important. When those are present along with favorable demographics, size,and capital; magic happens. -Arun

To: elmatador who wrote (85126)	12/28/2011 3:54:31 AM
From: Snowshoe	Read Replies (1) \| Respond to of 217656

Elmat, Just as I told you, the US ethanol tariff could only be cut if and when the ethanol subsidy was also cut. They both expire next week on 1/1/2012! Now we'll see what the effect is on US ethanol and gasoline prices, and whether Brazil becomes a net exporter of ethanol to the US. Given the current Brazilian imports of US ethanol and the high global price of sugar, I doubt we'll see a rush of ethanol imports from Brazil. Also keep your eyes on the US Congress for a fight about rolling back the planned increase in the ethanol blending mandate... Congress ends ethanol tax subsidy, tariff detroitnews.com Washington —The United States has ended a 30-year tax subsidy for corn-based ethanol that cost taxpayers $6 billion annually, and ended a tariff on imported Brazilian ethanol. Congress adjourned for the year on Friday, failing to extend the tax break that's drawn a wide variety of critics on Capitol Hill, including Sens. Tom Coburn, R-Okla., and Dianne Feinstein, D-Calif. Critics also have included environmentalists, frozen food producers, ranchers and others. ***** Ethanol supporters are worried Congress might roll back a 2007 mandate that dramatically boosts the use of ethanol annually through 2022. The mandate jumps from 15 billion gallons of renewable fuels — including cellulosic ethanol in 2015 — to 36 billion gallons by 2022.

To: elmatador who wrote (85126)	12/28/2011 11:57:48 AM
From: Gemlaoshi	Read Replies (1) \| Respond to of 217656

water, energy, food, population this is what makes a wealthy country. Elmat, Most academic studies show that an abundance/lack of natural resources has little to do with economic growth. Japan and Russia are two extreme examples. In fact, an abundance of natural resource can result in dependence, and an inability to develop a broadly based economy (e.g. most of the oil countries). Some great books on the subject: Michael Porter: "Competitive Advantage of Nations": amazon.com Hernando DeSoto: "The Mystery of Capital" amazon.com Thomas Sowell's work on how cultural values translate into economic success/underperformance in "The Economics and Politics of Race": amazon.com David