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May 13, 2006
My 5 Step Plan to Spend Less Money on Gasoline
1. Spend.
2. Less.
3. Money.
4. On.
5. Gasoline.
It's still the cheapest energy around:
Unfortunately, there is nothing on the horizon that comes close to gasoline as far as cost and performance is concerned. Consider the fact that taxes in Europe put gasoline prices at $5 to $8 per gallon. If alternatives to gasoline had economic merit, they would surely have arisen in Europe.
Ethanol made out of corn is probably the closest thing we have to a domestic alternative to gasoline. But no matter how nice "growing our own fuel" might be in theory, it's uneconomically expensive in fact. Even after 30 years of lavish federal subsidy, ethanol (defined as fuel that is nine parts gasoline and one part ethanol) has only managed to capture a bit more than 3 percent of the automotive fuels market, and even industry participants concede if the subsidies and consumption mandates were removed today, the entire industry would collapse.
Posted by edelfenbein at May 13, 2006 7:24 AM
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