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Energy Secretary Hints At Ethanol Tariff Change
By Mr Ethanol | January 31, 2008
CattleNetwork:
The Bush administration’s 2009 budget may propose a change in the current 54-cent-per-gallon tariff on 
imported ethanol, Energy Secretary Sam Bodman hinted on Tuesday.
Speaking to reporters, Bodman said the budget the administration will send to Congress on Monday “will start to deal with that question” of whether the tariff should be renewed or allowed to expire at the end of this year, according to Reuters. “I believe that, the best I can tell, this industry is pretty close to being able to stand on its own,” he added.
In addition to the import tariff, U.S. ethanol blenders get a separate 51-cent-per-gallon tax credit through 2010 under current law. Bodman declined to clarify whether the administration might propose reducing or eliminating the tariff or the tax credit.
As vague as his comments were, they ignited the ire of Sen. Chuck Grassley (R-Iowa), who issued a statement in response on Wednesday.
“By lifting the ethanol tariff, we’d end up subsidizing Brazilian ethanol. I can’t figure out why Secretary Bodman would want the United States to risk becoming dependent on Brazilian ethanol when we’re already dependent on Middle East oil,” said Grassley.
Topics: Ethanol Prices, Legislative, News |
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