How new US biofuel legislation will subsidize oil consumption

Why new U.S. biofuel legislation is on track to waste billions of tax dollars, while subsidizing oil consumption. Harry de Gorter, like David Just a Cornell professor of applied economics and management, advises the U.N.'s Food and Agriculture Organization and the World Bank on issues related to the impact of biofuels on food security and global warming. He is also involved in talks on biofuels in the Doha negotiations and in World Trade Organization trade disputes. Just studies the use of information and, more particularly, how differences in human capital and information availability affect decisions....