5 replies to this topic

[Sphinx]

I would encourage those who feel the same to contact their senators NOW and make your voice heard. You can do it through their website. Here are the details:


_______________________________________________
An amendment to end the Volumetric Ethanol Excise Tax Credit (VEETC) is expected to be offered next week in the U.S. Senate during debate on the Small Business Reauthorization Act. Senator Tom Coburn (R-OK) is the author of the amendment. Ask your Senator to vote for this amendment.

Please make contacts with your senators before the end of this week or early next week... the sooner the better. Short messages by phone or online are fine -- see contact info below.

TALKING POINTS:

1. The bill has widespread support from a diverse set of interest groups representing the entire political spectrum.

2. The Government Accountability Office (GAO) and Congressional Budget Office (CBO) have both said the tax credit is unnecessary because it pays gasoline refiners for blending ethanol-something they are required to do under the Renewal Fuels Standard (RFS) already.

3. Eliminating the tax credit would save taxpayers over $4 billion over the remainder of 2011.

4. We are burning 40 percent of the corn crop for ethanol this year, which is contributing to the record commodity price increases.

5. CBO says replacing 1 gallon of gasoline with corn ethanol costs taxpayers $1.78 -- this is not a panacea for energy independence.

6. Ending VEETC will lessen the incentive to produce ethanol above the mandate.

[Qik Nip]

Ethanol from corn. Clearly one of the dumbest ideas ever! A gallon of corn ethanol consumes more BTU's of energy to grow and refine than it contains.

A perfect example of misguided tax policy disorting economics. If we want energy independance, let's drill more, refine more, use natural gas and let the free market direct us to better fuel economy and (non coal powered) electric cars.
Rick

[dmathias]

Obamanomics

[Tom Hampton]

Obamanomics

+1

[dstevens]

The ethanol subsidies came from the Bush II era. The farm lobby is too big and the conservative base in the midwest isn't going to going to be too happy to lose that credit. The countries that have been doing well with ethanol, Brazil for example, aren't using material from the food source market. They're using sugar cane but growing it specifically for fuel. Cellulostic ethanol has a much better future.

[wheel]

I don't think you can blame this one on Obama. This was going on before his time. I think you might look at big ag business. Never the less, it is dumb.
wheel