Level the Playing Field and Ethanol Will Compete On Its Own
by Stephanie Dreyer (Growth Energy/RenewableEnergyWorld.com) Ethanol has been the Oil Industry’s favorite target for years. Big Oil has argued that the ethanol industry can’t compete with gasoline without taxpayer support. Ironically, a recent study by the American Petroleum Institute concluded that eliminating federal tax deductions for US oil and gas production expenses would hurt the oil companies and its growth.
…In 2009 alone, the production and use of 10.6 billion gallons of ethanol contributed $53.3 billion to the nation’s GDP, generated $8.4 billion in federal tax revenues and created and supported more than 400,000 jobs across the country. And it eliminated the need to import at least 364 million barrels of oil, keeping $21.3 billion in the U.S. economy.
…The truth is, the only reason the ethanol industry needs government support today is because we are arbitrarily denied access to all but 10 percent of the fuel market. The oil companies control the entire infrastructure to dispense fuel and engines have been designed specifically to use any quantity of gasoline. READ MORE
