(Post #1 moved here for new readers convenience)
Next bold line is SUMMARY of corn-based-ethanol New York Times article of 25 June 2006:
Expect to pay higher taxes (for the subsidies) and higher food prices while big agri-business gets richer.
Article ends with:
"With oil prices at $70 a barrel sharply lifting the prices paid for ethanol, the average processing plant is earning a net profit of more than $5 a bushel on the corn it is buying for about $2 a bushel, Mr. Basse said. And that is before the 51-cent-a-gallon tax credit given to refiners and blenders that incorporate ethanol into their gasoline. It is truly yellow gold" See:
http://www.nytimes.com/2006/06/25/b...cf7f34&ex=1308888000&partner=rssyahoo&emc=rss
Also in NYT report:
"Despite continuing
doubts about whether the fuel provides a genuine energy saving, at least 39 new ethanol plants are expected to be completed over the next 9 to 12 months..."
"...ADM has not lost interest in promoting ethanol among farm organizations,
politicians and the news media. It is by far the biggest beneficiary of
more than $2 billion in government subsidies the ethanol industry receives each year,
via a 51-cent-a-gallon tax credit given to refiners and blenders that mix ethanol into their gasoline. ADM will earn an estimated $1.3 billion from ethanol alone in the 2007 fiscal year."
{Billy T adds:
NOT included is the subsidy given to corn growers or more than half of all farm subsidies! ADM = Archer Daniels Midland}
"While ADM has pushed ethanol, rivals like Cargill* have been more skeptical. To Mr. Staley, ethanol is over promoted as a solution to the nation's energy challenges, and the growth in production, if unchecked, has the potential to
ravage America's livestock industry and harm the nation's reliability as an exporter of corn and its byproducts. ... "Unless we have huge increases in productivity, we will have a huge problem with food production," Mr. Staley said." And the world will have to make choices. ....analysts doubt whether the scientists and farmers can keep up with the ethanol merchants." {Remainder of post is comments by Billy T, not NYTimes. NYT lacks courage? (To tell: "All the News, Fit to Print")

}
Looks like big oil must share space on back of US tax payers who soon will not be eating beef. Do you think you can carry the load still?; Or is it:
Time to clean out Washington, end alcohol import quotas; end the 54 cents per gallon import duty; end subsidities to big farms;
so Brazil can sell you alcohol for ~60% of what you are paying for gasoline now,
AND lower your taxes!
.................................................................................................................................................Again I ask:
HOW DUMB CAN US VOTERS BE?
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*Gargill is privately held. Annually, most of the 100s of millions of your tax dollars Cargill collects go basically to a family group as Gargill has no shareholders. ....I have no doubt
many $ return to Washington Politicians (of both parties) so I guess it is all fair.

... What do your think?