Biofuels can spur recovery
To the editor,
Every previous U.S. economic depression was preceded by an inflationary bubble in real estate and a subsequent loss of farm profitability, which dominoed throughout the economy. Our biofuels industry saved agriculture, construction and industry in the Midwest from recession. Now, with assets and debts over $1 billion, the second-largest ethanol producer filed for Chapter 11, having hedged heavily in speculation-inflated corn markets.
Several other ethanol and biodiesel plants are already in bankruptcy, most are in trouble, and many are already shut down, as biofuel companies try to avoid losses.
If we allow our biofuel markets to close, farm prices will shortly collapse, sucking the lifeblood from our economy, and making a long, deep depression inevitable.
We need not, and must not, let this happen.
A new national renewable energy cooperative association would help producers and employees buy their troubled local biofuel plants, diversify operations, products and feedstocks and market their production under one national co-op label.
Then, we could each vote with our wallets for renewable energies, every day, invest in our local economies with every dollar we spend on energy, repopulate rural America with well-paid, biofuel technicians and all share in the profits.
I invite you to visit and join www.amass.us and help formulate our course of action. Check it out, then invite your friends, relatives and contacts to join AMASS, so we can grow an organization that really does have the best interests of all Americans at heart.
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