Push Ethanol Off the Dole by Stephen Moore Stephen Moore is director of fiscal policy studies at the Cato Institute. Bill Archer, R-Tex., is a heroic politician. He is heroic not just because he has constructed a commendable tax cut bill, despite the tight budget constraints that Bill Clinton and Republican leaders forced upon him.
Ethanol is a corn-based gasoline substitute.
D.C. The ethanol program originated in the late 1970s during the energy crisis. Ethanol's survival has nothing to do with economics or the environment and everything to do with political muscle. Almost 70 percent of ethanol is produced by America's premier agri-giant, Archer Daniels Midland. Through programs like ethanol and sugar price supports, it has reaped a profitable harvest from taxpayers. In fact, an estimated 40 percent of ADM's profits come from government-subsidized products.