You may never have never heard of Patricia Woertz, or Archer Daniels Midland. Woertz is the CEO of ADM, America’s 27th largest company, and it’s the largest company headed by a female in the US. The reason you ought to care is that Woertz and ADM have the power to make your life more expensive – much more expensive. And they have been aggressively exercising that power for over 30 years.
ADM is the largest primary food processor in the country – it turns corn and soybeans (among other products) into a host of consumer products: corn flakes, cornstarch, corn syrup, corn meal, popcorn, and hundreds of other items. One of those other items is ethanol. Ethanol is a pure grain alcohol that, when blended with gasoline, yields gasohol – the E10 or E85 blends. Ethanol has long been touted as a path to energy independence, the way to reduce, or even eliminate, oil imports.
More accurately, though, ethanol is the latest incarnation of snake oil. It is an inferior product in every facet, and the entire ethanol industry would disappear overnight if the federal government would perform its intended function – the service and protection of its people – and end ethanol subsidies once and for all.
Full article at: The Ethanol Con
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