Corn Ethanol

2005 

What makes a great side dish AND alternative fuel? Why golden sweet American corn, of course. Meet ethanol, a renewable fuel made from fermenting corn. The potential solution to both global warming and the dependence on oil imports was something to celebrate. Large-scale federal subsidy programs commenced. 

But growing corn and turning it into fuel consumed so much energy that there were no real climate benefits. A decade after the boom, ethanol is viewed as a huge failure that cost American taxpayers billions of dollars.

Additional info:

Inside Climate News - Corn-Based Ethanol May Be Worse For the Climate Than Gasoline, a New Study Finds

The Guardian - Lawsuit says US environmental agency ignores harm of biofuel production

Food & Water Watch - How Ethanol Worsens the Worst Parts of Our Food System