You don't? RE: "I see nothing wrong with positive steps to help remove our need for foreign oil."
Dependency on Foreign Oil is a bad thing. Only thing worse is Dependency on Foreign Loans. Big Government seeks a non-economic solution. Big Government believes the ends justify any means – in this case subsidizing (paying) $1/gallon for biodiesel with deficit money borrowed from China.
Zenergy has been a startup for almost fours now. No rervenue, just stock and loans sold. Now it invests in obsolete tech and hopes for Big Government to support an otherwise unsaleable product. Not good that we should borrow our kids money for it.
If biodiesel is to work, it will need to compete with oil. By pushing biodiesel before it is competitive, we invest in obsolete technology. If biodiesel becomes competitive, in the unsubsidized sense, then it will replace oil faster than cars replaced horses. Henry Ford did not need subsidies – even though the cities were under a pile of manure everyday.
If Big Government had had its way, cars would be built by hand in shops by guild workers. And blacksmiths and buggy whip makers would still be in business in the US.
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