Ethanol and the price of bacon

Every Saturday in the Wall Street Journal there is a section called “The Weekend Interview”.  Yesterday’s interviewee was C. Larry Pope, CEO of Smithfield Foods, Inc.  The entire article is well worth the time it will take you to read it, particularly to get an understanding of how business works.  But, let me give you a few excerpts to explain why it is increasingly more difficult for you “to bring home the bacon”. Read more

Another nonsensical government regulation

Yesterday, the EPA decided, over the objections of most automobile manufacturers, that it would “allow ” a mixture of 15% ethanol in all gasoline sold in the United States for all model year 2001 through 2006 cars.  Last October it did the same for all model year 2007 and later.  By now you know that the word “allow” in government speak means “mandate”.  But, how we got here, as well as its consequences, is yet another example of what I will call, “bureaucratic blinders”. Read more