In his recent Mises Daily, Dave Albin admirably elucidates the tangle of unseen, long-run consequences that has resulted from uncoordinated government subsidies to the sugar, corn and ethanol industries.   But if we narrow our focus to the ethanol industry itself, there is a more fundamental  point to be made.  For the ethanol industry  is a “fiat” industry created not by consumer demand but by the Federal Renewable Fuel Standard (RFS) program established by the Energy Policy Act of 2005 and expanded by the Energy Independence and Security Act of 2007.  The RFS mandates that all transportation fuel sold in the U.S. (gasoline, … Continue reading Engine of Destruction