Allen E. Smith calls for new energy policy legislation, arguing that the ethanol industry is an example of "our preoccupation with letting the free market determine our national energy policy."
The only reason that ethanol is in our gas tanks is because of energy policy legislation mandating its use, along with billions in subsidies for ethanol producers. Rather than a failure of the free market, ethanol is a perfect example of how legislators with a poor grasp of the energy market, abetted by corn and green lobbyists, can push an ill-conceived project forward. Allen Smith, no. Adam Smith, yes.
(published in Boston Globe 11/20/07)