Read More »"/> Read More »"/>
Call it a Christmas miracle, if you will, but the U.S. Congress has managed to end one of the most egregious wastes of taxpayer dollars by doing what it really does best: nothing!
Cars in Depth’s Ronnie Schreiber has the story:
Lost in the hustle and bustle of the holiday season, Congress has quietly ended subsidies on ethanol fuel as well as ending a special import tariff on Brazilian ethanol. The ethanol subsidy paid fuel blenders 45 cents per gallon to make E10, gasoline blended with 10% ethanol. The tariff added 54 cents to the cost of importing a gallon of ethanol from Brazil. The ethanol subsidy currently costs US taxpayers about $6 billion per year. Over the past 30 years, the program has cost $45 billion. By taking no action on the subsidy before adjourning for the end of the year, Congress effectively killed the program.
Though ethanol interests, like corn growers and affiliated industries, have considerable political power, a wide variety of critics, cutting across political lines, had coalesced around the issue, encouraging Congress to let the subsidy end. The food processing and livestock industries joined with environmentalists to oppose the subsidy. The policy was encouraging diversion of corn from feedlots and food processors to ethanol production, raising the cost of foodstuffs. Environmentalists, some of whom used to endorse ethanol as a biofuel, now say that it’s “dirty” because its production is carbon intense.
Now, if we can only get U.S. politicians to do nothing more often in the new year!…
© Christina Deridder | Dreamstime.com