Here’s a thought. Ethanol from corn is not a good way to go.
However, if you can allow it as possibly part of the mix, in the long run markets could become more involved in decreasing ethanol from corn and increasing it from switchgrass like they have done in Brazil. Fred could be saying Ethanol is ok, without intending to stress corn. He could have the long view that eventually things will swing over to better sources than corn.
If so, it’s a wiley and wise approach, in my view. And defensible. Better than going to Iowa and saying, ok, folks, no more corn ethanol from this day forward.
Sheesh. Whatever.