What is this? OPEC saying ethanol is bad?

The biofuels industry is responding to OPEC's claims that ethanol is the reason for high gas prices. Yeah right! Ethanol keeps the prices lower. Several biofuels organizations issued the following press
release to draw attention to their ad in the Financial Times.
If you click on the link at the bottom you can view the full ad.
Links: http://www.goodfuels.org/opec http://www.prweb.com/releases/2008/7/prweb1115304.htm
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That is arguable at best. The cost of producing ethanol from corn (like it is done in the US) is actually very high. It is very inefficient (granted, it will improve over time), and it consumes food crop, so it has negative effect on food prices. Ethanol price is government-subsidized with tax money that could have been used for other purposes (education, healthcare, paying off national debt, etc.). In addition, using ethanol-blended gasoline (E85) results in degraded fuel economy, so you end up using more of it.
But I do see the benefit of using biofuels to reduce our reliance on oil. It's just that currently this benefit comes at a pretty high price.
Pete
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wrote

I'm noticing poorer mileage even with the ubuquitous E10 we're getting these days.

corn more than doubled - making it equivalent to about $5.00/gal, heating oil.
Tom K.
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