Host: American Enterprise Institute. Ethanol advocates point to Brazil and credit its switch to sugar-cane ethanol with helping to insulate the country from oil shocks of recent years. But digging a bit deeper into the data tells a more interesting tale: while ethanol certainly helped Brazil economically and environmentally, oil production was responsible for three-quarters of the energy wealth created by Brazil’s energy development over the last twenty-eight years. How would the United States fare with comparable policies?

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