it is amazing how the market always manages to confound its participants - the market had already exploded when this post was made - and those who followed its advice probably bought the top of this mornings ethanol action as we trended down through most of the afternoon for only a small gain on the day - i'm not sure how this speaks to what will happen tonight - but the news is now priced in - whether bushes comments are more or less bullish than anticipated is now no better than random chance....
When a government official opens his mouth and talks about economic policy, or god forbid, commodities or the stock market, kiss it goooooodbye.. I wish I could have had the balls to sell the sugar market last year when Shrub opened his big stupid mouth talking about ethanol...
I'm not familiar with how they're going to encourage the ethanol industry. Is it outright subsidies or just tax breaks? Many Republicans don't find tax breaks for a specific industry to be against their philosophy, because any lowering of taxes is seen to be good. Just yesterday, one of Hannity's guests was complaining about the elimination of a tax break for oil companies, and Hannity shook his head and rhetorically asked the guest why he wanted to raise taxes on Americans.