CBO: $1.78 for Ethanol per Gallon of Gasoline Reduction (Congress, environmentalists, cost)

[thecoalman]

Anybody still think it's worth it?

Congressional Budget Office - Using Biofuel Tax Credits to Achieve Energy and Environmental Policy Goals

The costs to taxpayers of reducing consumption of petroleum fuels differ by biofuel. Such costs depend on the size of the tax credit for each fuel, the changes in federal revenues that result from the difference in the excise taxes collected on sales of gasoline and biofuels, and the amount of biofuels that would have been produced if the credits had not been available. The costs to taxpayers of using a biofuel to reduce gasoline consumption by one gallon are $1.78 for ethanol made from corn and $3.00 for cellulosic ethanol. The cost of reducing an equivalent amount of diesel fuel (that is, a quantity having the same amount of energy as a gallon of gasoline) using biodiesel is $2.55, based on the tax policy in place through last year.

[Frank DeForrest]

It decrease fuel economy, is hostile to your car and the environment.
If that isn't enough, our federal government subsidizes it, protects it from competition and mandates it by law.
It is the ultimate boondoggle.

[thecoalman]

Far as I can tell this DOES NOT include the farm subsidies so it would actually be much more. Then we can throw in increased food costs... Makes you wonder what the real number is.

[sanrene]

The Left and the environmentalists have admitted they championed a truly horrible idea (aren't all their ideas bad?), turned into policy, that didn't even come close to meeting the initial "goals", and caused a worldwide food shortage for the poorest of the poor.

More unintended consequences of bad liberal ideas.

Oh, and The Goreacle has admitted the only reason he pushed the bad policy was because he was running for president.