Biofuel: A Corny Solution
The government’s policies regarding environmental protection seem to follow the “one step forward, two steps back” approach. This would certainly explain the latest debacle concerning the promotion of our emerging ethanol economy. After years of pushing for the widespread adoption of biofuels through expensive legislation subsidizing producers of ethanol, Congress is now backpedaling on the revelation that biofuel consumption actually produces more pollution than burning gasoline. Just last week, Speaker of the House Nancy Pelosi sent a letter to President Bush urging him to consider the reform of current biofuel policies. This news is especially devastating for those that touted biofuels as America’s best solution for saving the environment while curbing its appetite for foreign oil.
While most people celebrated the coming of the New Year, many economists have been dreading the day that the current sub-prime mortgage crisis matures into a full-on recession. But while politicians in both major political parties seek to head off what seems to be an inevitable economic downturn with bailout policies and rate freezes, it is not clear that such government intervention is an appropriate remedy for what is essentially mass financial stupidity.
Sometime in the next few months, a very select nine-member body will make one of the most important decisions affecting Vanderbilt University’s destiny, and by extension, the futures of all its students and alumni for years to come. Of course, I am speaking of the Chancellor Search Committee, and their decision of whom to select as our new Chancellor should definitely be of utmost concern to us as members of the Vanderbilt community. 
