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The Politics Of Ethanol
By Mr Ethanol | May 15, 2007
Robert Aronen:
In a brief meeting at the White House yesterday, President Bush called on Congress to pass his 20/10 plan — a 20% reduction in gasoline usage over the next 10 years. The plan has two parts: Increase renewable-fuel production to 35 billion gallons annually, and reduce gasoline usage by 8.5 billion gallons annually by 2017. However good the intentions, though, this plan will at best provide questionable relief from dependence on foreign oil. And at worst, it will dish out multibillion-dollar annual subsidies that will hurt the American taxpayer from several angles.
Yet as bearish as I am on the plan, I am also bullish on alternative energy as an investment. Congress will almost certainly pass some kind of legislation in this arena. The bill will almost certainly focus on biofuels — ethanol and biodiesel — and several companies will benefit from the billions of dollars in subsidies.
Carry on reading: Biofuels are power politics.
Topics: Biodiesel, Ethanol, Legislative, News |
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