More ethanol idiocy
The unintended consequences of Washington's obsession with ethanol keep pouring in. Now comes word that the ethanol push is prompting Big Oil to scale back its plans to expand refinery capacity:
“If the national policy of the country is to push for dramatic increases in the biofuels industry, this is a disincentive for those making investment decisions on expanding capacity in oil products and refining,” said John D. Hofmeister, the president of the Shell Oil Company. “Industrywide, this will have an impact.”
This is just great: The grand designs of politicians to create cheaper, more plentiful fuel are creating more expensive and more scarce fuel.
Oh well. If the energy industry is screwed up, you might as well profit from the trend: Here's one idea to check out in a free DR White Paper.