Biodiesel and Ethanol Investing

The New York Times reports that the congress must soon decide whether to extend federal tax subsidies for renewable energy that expire at the end of the year. The Congress should end tax breaks for corn ethanol, which can stand on its own and is of dubious environmental benefit. Ethanol has been subsidized since the early 1970s, partly because it increases octane levels while helping to reduce certain pollutants, most notably carbon monoxide.