Sunday, January 22, 2006

Paul Harvey: Paid Buttboy. Good Day!!

Paul Harvey's shameless driveling about the "virtues" of ADM and their corn-a-hole is enough to make one vomit.

  • Making a gallon of ethanol costs 70% MORE than it delivers in energy (Cornell U.)

  • Wisconsin’s Department of Natural Resources (DNR) estimates that the proposed mandate will increase nitrogen oxide (NOX) emissions, which contribute to ozone smog, by 6.9-13 tons per day. This is double the reduction in NOX emissions that Wisconsin achieves through vehicle inspection and maintenance programs in six southeastern counties.
  • Without the 71 cents in state and federal subsidies, ethanol is by the most conservative estimates, twice as expensive to produce as gasoline — and has less energy (BTUs). A survey of gasoline prices through out Wisconsin on 12/26/05 showed that the lowest gas price of $2.242 for non-ethanol unleaded was in Green Bay, compared to $2.253 for 10% ethanol blended gas in Milwaukee.
  • Farmer-owned ethanol plants are investment schemes to rake in profits from subsidies. The 2005 energy bill passed by Congress, allows non-farmer investors to make out with tax credits. If a farmer-owned cooperative builds an ethanol refinery, the investors get a share of the refinery's annual $1.5 million tax credit allowed by the federal government. If the credit equals an investor's tax bill, the investor owes no federal taxes. If it exceeds the tax bill, the investor is entitled to carry it over. The U.S. currently has several hundred ethanol plants, mostly farmer owned. Some are structured as limited-liability corporations to let non-farmer investors in on the feast.”

In other words: the stuff is NOT efficient, it is NOT really 'less expensive' to the consumer, it WILL cause pollution problems, and it is driven by tax-scamming subsidies.

Archer-Daniels-Midland (ADM), Paul Harvey's puppetmaster, has already been through Federal investigations for influence-peddling. The Company has earned a reputation as one which will buy influence anywhere it can.

It has been quite involved in the Wisconsin legislation. This is ONE veto that BagManJim should slam home, in broad daylight, at noon on Capitol Square.

Eat fertilizer, Paul Harvey.

No comments: