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Prada's Underperformance   Transcending English
Sep 21 2007 1:35PM EDT

Ethanol Datapoint of the Day

Remember the ethanol bubble? Looks like it's burst:

The price of ethanol soared earlier this year to record levels of more than $4 a gallon as the Bush Administration vowed to boost production of alternative fuels...
Ethanol prices have slumped in recent months, to less than $1.70 a gallon...
Construction on new ethanol plants is down more than 60% from last year.

Is there any hope that once corn farmers give up on their ethanol dreams, the US government might start allowing the import of much cheaper sugar-cane ethanol from Brazil? No? Didn't think so.

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