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That the micro-managers might actually learn something about unintended consequences. From this morning's Wall Street Journal:

The shine is off corn ethanol, and oh, what a comedown it has been... the government's decision to play energy market God and forcibly divert huge amounts of corn stocks into ethanol has played havoc with key sectors of the economy. Corn prices have nearly doubled, which means livestock owners can't afford to feed their animals, and food and drink manufacturers are struggling to buy corn and corn syrup. Environmentalists are sour over new stresses on farmland; international aid groups are moaning that the U.S. is cutting back its charitable food giving, and many of these folks are taking out their anger on Congress...

All this pressure is beginning to hit home. Ethanol isn't going away anytime soon; you can't unring a bill. But senators are said to be readying amendments to offer to the new ethanol bill that would use triggers or waivers to further water down the corn element. Turns out there are huge economic consequences to Congress micromanaging energy policy, and all to aid its campaign donors in agribusiness. A lesson the U.S. is now learning the hard way.

My DC lawyer/lobbyist friend -- who's seen a few things when it comes to unintended consequences -- says:

The US may "learn," but Congress -- a discordant band of 535 -- doesn't "learn." It adjusts policy, typically by making a move in a contrary direction without ever going back to fix what it broke. So, if one Congress micro-managed to overdo it on corn-based fuel subsidies and tariff protections, don't bet it has learned or that this is "hard" on Congress because of negative impacts on the Americans forced to pay the consequences.

Watch them swing into action and micro-manage something else when the wind shifts. The next thing for subsidyhungry farm lobbies? "Biological Carbon Sequestration" -- an idea to allow farmers to sell carbon credits if they adopt yet-to-be-determined land practices. Coming soon to a bloated Farm Bill near you.

Vote now: Will Congress will "learn," or just micro-manage that one?

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