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   whatajoke said: On March 1, 2011 at 6:19 PM

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   I see nobody complains about this, but are quick to blame prices of food etc. on ethanol right?
    Ethanol is unfairly subsidized.
   Reality: Yes, ethanol producers and blenders share in a 51-cent-a-gallon federal credit that costs taxpayers about $2 billion a year. The majority of that accrues to oil companies, not farmers. But not mentioned by critics is the 54-cent-a-gallon tariff on imported ethanol, which hampers global competition. Meanwhile, the US also directly subsidizes Big Oil. The General Accounting Office reports that the industry has netted $82 billion from just one line item alone, something called “excess of percentage over cost depletion,” and there are many other such clauses.

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