Daniels has been a big ethanol booster

Sad, bad news for those of us looking to the Governor of Indiana as potential nationally.

He's backing away from it now, presumably given his concern about our spending and debt.

Even so.

I so hate ethanol.

Iowa--you have got to swear this stuff off.

You may like the profits for corn growers but it's destructive to the economy to waste resources like this in subsidies.

We've already seen quite a run--commodity and corn prices may be headed higher, impacting food and gas prices, a ripple effect.

Bad news for America.

More. Related:

Free markets rather than protectionist polices are the solution to volatile food prices and the G20 should take steps to prioritize the provision of food for the poor, World Bank President Robert Zoellick said.

From the Financial Times article here.