Ad: Sign here if you want $31B of your tax money to subsidize Ethanol

Discussion in 'In the News' started by Chuck, Jun 26, 2010.

  1. Chuck

    Chuck just the messenger

    [​IMG] No matter how you slice it, the VEETC is a massive giveaway to Big Oil for obeying the law that buys us little to nothing in terms of new jobs, environmental performance or even additional domestic ethanol production beyond the quantities already mandated by the RFS.

    [FFLASH=LEFT][/FFLASH]Nathanael Greene - CONSUMERENERGYREPORT - June 25, 2010

    Check the video - can't say it better. --Ed.

    Everyone who thinks Big Oil should get $31 billion from U.S. taxpayers, please sign on the dotted line. That’s the message of a new ad running today in Congress Daily sponsored by NRDC, the Union of Concerned Scientists, Friends of the Earth and the Clean Air Task Force. The ad highlights the wastefulness and redundancy of the Volumetric Ethanol Excise Tax Credit (VEETC), which amounts to little more than a massive government bribe to oil companies to get them to buy and blend gallons of corn ethanol they are already required to purchase under the Renewable Fuel Standard.

    As I’ve discussed here and here, corn ethanol is a mature technology that has been commercially viable for decades and today provides nearly 10 percent of light-duty vehicle fuel in the United States. Though the ethanol industry argues that the VEETC is critical to its survival, the reality is that most of the VEETC value ends up in the pockets of oil companies as profit.... [RM][/RM]

  2. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    Hi Chuck:

    The Science has already proven Ethanol is a financial disaster of monumental proportions. The Politics however are so damned intertwined with BS it may be hard to unravel unfortunately. Watching MN beg for the 15% mandates so they can steal even more money while doing nothing for our dependence on foreign oil pisses me of to no end.


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