Monday, March 26, 2007

Corn Can't Solve Our Problem

Two self-referential (some would say self-reverential) points from last Friday's post on biofuels.

We have a meme! The above title is the headline for this WaPo story from Sunday's early edition.

Secondly, Sen. Cameron's definition of an honest politician seems relevant to this classic bit of rent-seeking between ADM and the Canadian government.

The money quote, "Our concern is when you start making comments about clawing back and putting rate caps of returns on industries that it may retard or may even discourage the kind of vibrant industry that we all seek," completely spins the fact that the proposal is to clawback Canadian government largess from ethanol producers achieving a level of profitability, not what the maximum RoR will be.

Usually, if a John threatens a whore for reneging on an agreed upon service it's chargeable, here it's corporate communications.