Ethanol is the dumbest idea we have ever come up with. We're taking viable, important land that we can be planting food upon, and we're taking it to create a fuel that is utterly inefficient. A gallon of ethanol gives you about 85% of the horsepower of a gallon of gasoline, and yet it costs you energy to produce it. If it were not for the senators and congressmen of Iowa, Illinois, Nebraska - there would be no ethanol production. It's just an utterly idiotic program that I hope we do away with.
~ Dennis Gartman, The Gartman Letter, as interviewed on Bloomberg Video, November 1, 2007