Read here. The brilliance of big government politicians is always soooo stunning. Big corn business interests tell politicians that ethanol will cut oil imports substantially. Politicians believe the corporate types and the sleazy renewable energy investors (i.e., Gore, Soros, etc.), and thus give $7 billion per year in subsidies to these corn-geeks. Now after 10 years of this idiocy, corn ethanol production has increased dramatically but oil imports has increased even more - that's right, U.S. oil imports increased, despite the claims of the ethanol rip-off lobby.
And now the politicians and big government EPA bureaucrats want to subsidize the big corn investors even more by mandating the all U.S. gas have at least 15% ethanol, which will automatically decrease a vehicle's miles per gallon efficiency. Simply amazing.
It's time to escort the existing ruling class in Washington out the door this November.
"In the next few weeks, the Environmental Protection Agency is expected to rule on a proposal to increase from 10 percent to 15 percent the amount of ethanol that may be blended into gasoline.....Since the 1970s, Congress has justified subsidies to the corn ethanol industry with the oft-repeated claim that boosting domestic production of ethanol will increase America's energy security by reducing U.S. oil imports.....Between 1999 and 2009, U.S. ethanol production increased seven-fold, to more than 700,000 barrels per day (bbl/d). During that period, however, oil imports increased by more than 800,000 bbl/d.
h/t: Tom Nelson
- Tax subsidies provided to corn ethanol producers have been larger than those given to producers of any other form of renewable energy.
- Corn ethanol subsidies are now costing U.S. taxpayers about $7 billion per year, the Congressional Budget Office reported in July. The CBO found that producing enough corn ethanol to match the energy contained in a single gallon of conventional gasoline costs taxpayers $1.78.
- Corn ethanol is a financially inefficient method of cutting carbon dioxide emissions, costing taxpayers $754 per metric ton of CO2 avoided, the Congressional Budget Office also reported."