The US Energy Department may bail out failed biofuel investments under proposed regulations that were announced yesterday. There could be up to $4bn in this financial year and $9bn next year, according to Planet Ark.
They’re being optimistic. So taxpayers will be subsidising corn that will be sold to financially unsound projects (which will receive tax breaks) and the creditors to these projects will be funded by the taxpayer if these projects, fail.
Sorry to be so negative, but why not just import cheaper biofuels and put the tax dollars to some better use… like a National Health Service? What do you think?