Senate Votes to End $6 Billion in Ethanol Subsidies

Discussion in 'Congress' started by Ringel05, Jun 16, 2011.

  1. Ringel05
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    Ringel05 Diamond Member

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    WASHINGTON (Reuters) - The Senate voted overwhelmingly on Thursday to eliminate billions of dollars in support for the U.S. ethanol industry, sending a strong message that the era of taxpayer support for biofuels is ending.

    The Senate in a 73-27 vote approved an amendment to end the 45-cent-a-gallon subsidy the government gives refiners and the 54-cent-per-gallon tariff on imported ethanol, which would be a boon to a major ethanol-producing country such as Brazil that makes ethanol from sugarcane.

    http://www.nytimes.com/reuters/2011/06/16/us/politics/politics-us-usa-senate-ethanol.html?partner=rss&emc=rss
     
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  2. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    Good deal, let's do some more.
     
  3. spectrumc01
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    spectrumc01 I give you....the TRUTH

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    Now that we have eliminated the competition to big oil, we need to end their subsidies as well. Farmers should be included in there as well.
     
  4. Trajan
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    Trajan conscientia mille testes

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    yup, it was bi partisan on both sides; the yeas and nays...

    just as a side bar,the mandate for renewable fuels consumption ala 36 billion gallons by 2022 has not been stripped out, how they will get there, well, stay tuned.
     
  5. westwall
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    westwall USMB Mod Staff Member Gold Supporting Member Supporting Member

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    That's some good news!
     
  6. Oddball
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    Oddball BANNED Supporting Member

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    What subsidies does big oil get?

    Let's hear some specifics.
     
  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    He's undoubtedly referring to the accelerate depreciation on capital equipment for tax purposes that All Companies are able to use.

    All that means is they tax the tax benefits in one year for Creating Jobs via their investments.

    How Evul.
     
  8. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Good deal. They are a viable industry now. Oil companies will hopefully be next.
     
  9. KissMy
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    KissMy Free Breast Exam

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    Big Oil gets over $280 Billion in subsidies.

    Ethanol gets $6 Billion.

    Solution = Take-a-way Ethanol Subsidy.

    Ethanol created over 400,000 Good Paying Jobs in the USA. Not the part time minimum wage crapola jobs most companies do today. Those ethanol jobs generated $56 Billion in the US economy & $11 billion in federal, state and local tax revenue. That easily covers the $6 Billion ethanol blending subsidy.

    They are all on the take from Big Oil. They will never bite the hand that feeds them. No way big oil lose their tax breaks or subsidies.

    Denver Post
     
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    Last edited: Jun 17, 2011
  10. KissMy
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    KissMy Free Breast Exam

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    OIL SUBSIDY TOTALS = $133.2 billion to $280.8 billion/annually/ .96 cents to $2.01 per gallon produced in U.S./ 139.5 billion gallons

    If we did away with oil subsidies gas would go to $6 a gallon & ethanol would kick oils ass. Ethanol would make huge profit with no subsidy. There is no way new alternative energies can compete against the heavily subsidized oil. If you want to get off the Big Oil tit then quit subsidizing it. Alternatives will flourish.

    Boehner wants to cut oil subsidies
     

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