Now, I am the first to be leary of jumping on the Ethanol band wagon.
Through my research on the topic it is my understanding that the cost and fuel required for planting, growing, fertilizing, watering, weeding, harvesting, processing, and distilling whatever crop you use to make the stuff is greater than the amount of fuel/energy that is derived from the process.
With that being said, how do you factor in the intangibles of the process. Is there a way or method in economics to do this?
For example, I think getting off foreign oil would be great. I would love to "stick it" to Saudi, Venezuela, and everyone else. That in turn, I think would reduce the dollars that terrorists are funeled. It would reduce the power held by extremists, and would help alliviate some of the issues that would arise from the oil cartel switching to a Euro based system.
Also, being energy independant, kind of correlated to the above, but slightly different. I think that immediately speaking, it would not really be calculable, but long term could have some huge benefits.
To my knowledge, these types of things are not calculated into traditional economic equations of which I am aware.
So, how are these types of issues brought into the discussion to make the process of "Swithing Over" more economically feasible?