Hey! I have an idea! stop making us pay *twice* for gas and food (ETHANOL)

[underpants]

Okay this is 15 years old (and YES it is from the Cato Institute-that should tell you how bad it is)

Archer Daniels Midland:
A Case Study In Corporate Welfare

September 26, 1995

ADM has cost the American economy billions of dollars since 1980 and has indirectly cost Americans tens of billions of dollars in higher prices and higher taxes over that same period. At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its ethanol operation costs taxpayers $30

http://www.cato.org/pubs/pas/pa-241.html

Ethanol 101

Ethanol producers receive an array of subsidies from federal and state governments. The largest subsidy is the exemption from federal fuel taxes. Gasoline companies receive a tax break of 5.4 cents for each gallon of gasohol they sell. Because gasohol is usually sold in a mixture of nine parts gasoline to one part ethanol, each gallon of ethanol receives the equivalent of a 54 cent break from the federal tax code. While it is often misleading to speak of tax deductions and credits as the equivalent of a direct federal subsidy, it is certainly the case that, without the massive distortion of the tax code, there would be no ethanol industry, given the large cost differential in the production of ethanol and traditional gasoline.

Ethanol subsidies reduce federal revenues by $770 million a year,(30) losses that the Congressional Research Service estimates could rise to $1 billion by the year 2000.(31) Many state governments also heavily subsidize the production or use of ethanol.(32)

[Goldstein1984]

1. I worked for one of the largest ethanol producers in the nation

And ethanol is a joke.

It yields only about 1.25 Btu for each Btu used to produce it, and probably not even that much.

I think tar sands and shale oil produce at least three times that.

Ethanol is a welfare program for corn farmers.

[underpants]

2. It was so interesting to watch how that all happened

Bush proposes an ethanol mandate or requirement and all the news operations cover.... mind you they don't talk TO environmentalists they talk ABOUT environmentalists. Totally misrepresenting their stand on ethanol.

The last environmentalist I saw on TV was in November of 2007 on Colbert's show. He was obviously against it which is why Colbert had him on.

Then

nothing for 4 months

February 2008- ethanol is the bestest idea they have ever heard of. From Hillary to Obama to McCain they just loved talking about it.... in Iowa. It was a done deal at that point.

[notesdev]

3. So polite

it's a slush fund for big agricorps - so are HFCS subsidies.

people starving all around the world and we burn it for fuel... that really burns me up.

[Goldstein1984]

4. It is both immoral and bad science

But it's the kind of thing you get when corporations run the world.