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Corn-based biofuel is a horrible idea. Research is being done now now specially modified algae that can produce much higher yields of oil. The problem with all of these technologies is they are still cost prohibitive. Until the cost comes down or the government starts subsidising the companies, the overall cost of fuel will increase.
Another problem is getting these laws to pass and stick. The major oil companies are some of the largest political lobby groups out there. Do you think Exxon or any oil company is going to just sit there and let money be taken away from them by alternative fuel technology?
The law is a step in the right direction. We just need more and larger steps to solve the problems.
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