Ethanol industry asking for bailout!

[IRGuy]

(Credit for this link goes to Bill D who posted it in the B33 forum recently)

Capt Pat.. Maybe we need another section in this forum titled "Government Stupidity"!
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Well folks, it doesn't get much more ridiculous than this! Now the ethanol mfgrs are asking for a bailout because the price of oil is now too low.

Damn.. can it get any more stupid than this?

http://online.wsj.com/article/SB123008114168231965.html

[CaptPatrick]

You're right Frank, or at least it's hard to believe that it could get more ridiculous, but I have full faith in mankind's, (and in particular the government's), capacity for stupidity.

Everybody wants in on the bailout money. Hell why not? Ain't it "free money"? Like a street full of beggars. All have got their tin cups out at arms length...

Bail Out Candidates of America

[Raybo Marine NY]

I was talking to Peter, owner of Skater a few weeks back, he is predicting ethanol will stop being produced, main reason he cited was how much it costs to produce versus what they are selling it for.
His boats have built in tanks, there is almost no way to replace them with alum. tanks so they are always relined.

Now I read this today, makes you wonder?

[Harv]

Seriously.
Who didn't see this coming down the pike?

[In Memory Walter K]

Harv-this whole thing has been manipulated. If we were seeing $5.00 gasoline at the pumps now with this economy, the government would be dealing with riots. OPEC cut output by 2,000,000 barrels a day and the price per barrel went DOWN. A year ago if there was a weather report of winds in the gulf of 50 mph, the price shot up $10 a barrel at least. What happened between then and now is that the speculators and money manipulators are too busy trying to save their asses from bankruptcy to play that game right now. The TRUE market price is where it is. Ethanol won't die because it is too much of an embarrassment. If it does die it will only be because it goes broke trying to stay alive and the government (due to public opinion ot it's own bankruptcy) won't or can't bail them out. Walter