Are we doomed? Maybe. But there is a simple way out of this transportation-fuel conundrum: There are ample fuel resources right here in the United States, some already being brought on line. I’m not talking about agricultural output that can be converted into ethanol. As much energy is consumed in growing (diesel for tractors) and drying the crops (natural gas) as is produced by burning the ethanol in motor fuel. Corn ethanol has been nothing other than a political scheme to buy the votes of farmers and finance the political contributions of crony capitalists who benefit from government ethanol mandates and who receive the ethanol-refining subsidies. Of course, those subsidies require further tax increases, more government borrowing or more government money printing. Hence, increased ethanol production and increased ethanol subsidies are irrational.

But there is good news.

Tomorrow: The Good News

Jay Zawatsky is the CEO of havePower, LLC (a natural gas infrastructure developer) and a professor of business in the dual degree MBA program of the University of Maryland University College.