Richard Branson: ethanol would be cheaper than gas if America stopped taxing sugar imports

Billionaire Sir Richard Branson made headlines recently when he knocked the way Americans produce ethanol. In a recent interview with Charlie Rose, Branson fleshed out his ideas on ways America can improve the way it produces the alcohol fuel. Thirty minutes in, he says sugar produces seven times more ethanol than corn per acre and would not emit CO2. Branson also said sugar would not mean cutting down the rain forest because there is plenty of it and the price is at an all-time low.
The best argument Branson gave is that "sugar-based ethanol would be cheaper than conventional fuels imported from the Middle East." Of course, if we lived in Branson's world, we may not have to worry about making fuel from plants at all. He explained that his plans for going into space with Virgin Galactic could one day help fuel the world: just "two space ships full of helium 3 [from the moon] will power America's electricity for a year," he said. Space mining sounds interesting, but what if that space ship crashes?

[Source: Google Video]

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