Heartland on Ethanol

I've linked to Heartland before-- I've somehow ended up on the mailing list for a good number of free market think tanks and Heartland's correspondence is consistently in the upper crust of what I get. Today's email concerns Ethanol and makes interesting point throughout. I can't find the text of the email on their site word for word, but here's the research and commentary section from which their emails usually draw. I particularly enjoyed these lines:

Policy experts have pointed to three major problems with this notion. One, ethanol fuel will not reduce global warming. Two, ethanol does not provide much fuel when compared with the amount of resources used to produce it. And three, the diversion of grain to ethanol production has resulted in higher food prices in the developed world and food shortages, food riots, and starvation in less-developed nations.

The first part will be debated well into the night; the second is the real crux of the issue; the third is correct in the first half, though I can't vouch for the riots and people have been starving in less-developed nations for decades.

I hesitate recommending more in your email inbox, but they get the TPS seal of approval.