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The Ethanol Election Issue

By Mr Ethanol | October 6, 2008

Canada Free Press:
The issue of the nation’s financial and economic security is likely to dominate the November 4 election. Earlier in the campaign cycle we might have assumed that foreign affairs and energy would be uppermost on the minds of voters, but we’re told that, ultimately, voters vote their pocketbooks.

One place they most notice a major problem, however, is at the gas pump where prices continue to remain over $3.50 a gallon. It is doubtful anyone really thinks about the part of that cost that can be attributed to the government mandate that each gallon include ethanol. Other costs include the government mandated different blends of gasoline required in different regions or sections of the nation. The refinery costs of that are built into the price as well. Then, of course, there are the federal and state gasoline taxes that add considerably to the cost.

The consumer is constantly being told that the cost is determined by the global marketplace for oil and, to an extent this is true. However, left largely unsaid is the role the government plays in its refusal to permit exploration and extraction of oil reserves that are either known or which potentially exist on the mainland and off the continental shelf of the nation.

The mere mention of offshore drilling by Sen. John McCain was sufficient to drive down the global price per barrel for a while. It lifted his campaign prospects. Largely unexamined, however, have been Sen. Barack Obama’s long-held positions on ethanol production.

Full article.