Increase the production of alternative fuels from corn

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Recently there has be a drive to increase the production of alternative fuels from corn. The argument used by many is energy self sufficiency. In light of the desire to reduce our use of foreign produced oil, many have suggested we should subsidize this production and shift to alternative fuels. Is this a good or bad idea from and economic view? If you say “Yes” or “No”, explain your answer using sound economic theory.

Reference no: EM13858680

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