VeraSun Energy files for bankruptcy

The VeraSun Energy Corporation, which accounts for roughly 7 percent of ethanol production capacity in the United States, announced that it had filed for Chapter 11 bankruptcy protection late Friday.

As reported in this blog since 2005, corn ethanol just doesn't "pencil out":

=> Corn ethanol is just bad science and bad business.
=> Corn ethanol is not the answer.
=> Is Ethanol really right for the economy and environment?
=> Oregon's Renewable Energy Action Plan.

We need a 21st Century Energy Initiative that relies on science (not political whim) to develop the new technologies to get us through to the next century!