Read here. As we have written about before, ethanol and other biofuels are not only economic disasters, they are also very harmful to the environment. As the actual science of biofuels is slipping out, these fuels actually can cause more CO2 emissions than the fossil fuels they are supposed to replace.
Politicians decided to close their eyes to the real environmental science because of the dollars that biofuel lobbyists were throwing around. The same lucre-spreading is happening in regards to cap and trade CO2 legislation.
"Biofuels such as biodiesel from soy beans can create up to four times more climate-warming emissions than standard diesel or petrol, according to an EU document released under freedom of information laws...Chief among those fears is that biofuel production soaks up grain from global commodity markets, forcing up food prices and encouraging farmers to clear tropical forests in the quest for new land...Burning forests releases vast quantities of carbon dioxide and often cancels out many of the climate benefits sought from biofuels...Biodiesel from North American soybeans has an indirect carbon footprint of 339.9 kilograms of CO2 per gigajoule -- four times higher than standard diesel ..."