Like you, they don't know any science either.
Goldman Sachs is
not necessarily impressed by the future of ethanol, since it is probably the case that there are hardly any people in that investment house who understands the first thing about technology.
What they
do understand is how to exploit
hype. As old as it is, Goldman Sachs knows how to buy and sell
hype as well as anyone.
Here are the reports on the April, 2006 stocks of ethanol in the United States:
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/monthly_oxygenate_report/current/pdf/819mhilt.pdfOnce again, the point about the ethanol lah-lah land is obviated by the fact, in spite of
massive subsidies, the entire ethanol industry
barely matches 0.1% of US oil demand. There is
no evidence, although there is plenty of
hype, that the industry is any position to scale up by thousands of percent. In fact there is evidence to the contrary:
The fellows at Goldman Sachs however, don't give a rat's ass about that though.
The fact is that the units of energy are
still the exajoule. All the
hype in the world will not change the fact that the
entire ethanol industry has
yet to make it to a single exajoule.
And now, even if we want to call reality
snot here, even if we want to pretend that the little purple line (to which ethanol is a
tiny contributor)
isn't weeny in the ethanol lobby, once again is the
piece de la resistance: