Mixing corn-based ethanol as a fuel additive was a horrible idea.
It produces 34 percent less energy than gasoline, immediately reducing fuel mileage. Flex-fuel, a stronger mix, according to the government, creates 15 percent to 27 percent less miles per gallon.
A 2008 study showed that converting land into corn production cost hundreds of times more in carbon emissions than ethanol saved.
The cost to the world in lost calories was enormous as well. Cotton, hay, soybeans, and wheat saw price hikes. Beef prices jumped 60 percent as feed prices soared.
Third World countries were the hardest hit. Food stamp allowances insulated the American poor from malnourishment as tax provided dollar allowances adjusted upwards.
Taxpayers, commuters, consumers and the environment still are paying.
Iowa's powerful Republican Senators Chuck Grassley and Joni Ernst fight hard to maintain the boom but subsidized market ethanol created for their corn-growing state.
According to an article in the March 12 Wall Street Journal (Biofuels Mandates are a Bad Idea Whose Time May Be Up), there is growing bipartisan support in Congress to stop the mandate.
If true, it's welcome news to the markets abused by this subsidized billion dollar boondoggle.