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Political Factoid
Enacted under G.W. Bush
(in 2005 and expanded in 2007),
the law essentially mandates
the use of ethanol in the U.S.
fuel supply.
- 45 cent-per-gallon credit for the oil
companies for blending ethanol into
gasoline.
- $1.01-per-gallon tax credit for the oil
companies for producing cellulosic
ethanol.
Not to mention the roughly $5.00 a gallon
subsidy in protecting the Persian Gulf oil supply
and keeping it available for American use.
(When you count these costs paid through
"non-gasoline" taxes, Americans are paying
about as much as the people in Europe.)
cf.
244
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