Friday, October 29, 2010

Will Congress Stop Corn-A-Holing You?

Welfare for corn farmers is set to expire 12/31/10.

As of now, the federal government is mandating that U.S. vehicle fleet burn 36 billion gallons of ethanol per year by 2022.

That costs big, big, big money.

According to estimates by Earth Track founder, Douglas Koplow, if current laws are maintained until 2022, the biofuels industry will receive more than $60 billion per year in subsidies, more than six times the $9.5 billion in support received in 2008. --NAS study (Runge/Johnson)

That's about $750/ton of CO2-reduction. You can buy credits for CO2 reduction for $20/ton in Europe.

Of course, the next Congress could simply repeal the program.

OR we could have more elections.

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