At a farm seminar in Omaha last summer the subsidies for Ethonal was discussed and how it would effect farming if it went away. The people in the know said that refiners are find that blending ethanol with gasoline is becoming profitable. Even without subsidies it looks like ethanol is here to stay.
This would be a sure bet (it is here to stay
) look at it from this perspective. You lock down 15% of your supplies, and extend the life of your reserves, but you sell the same amount of product (gasoline) with less oil.
The government on the other hand, picks up all the related costs.
Can't get a better deal than that ... Everybody wins!
(Ask any politician)