Budget Trimmers Target Ethanol

  • CEO of Growth Energy, Tom Buis argues ... we spend plenty of money for overseas oil ... why not support home-grown ethanol?(Photo courtesy of the NREL)

President Obama’s visit to the Corn Belt is highlighting a tough debate about the future of corn-based ethanol used in our cars.

Transcript

President Obama’s visit to the Corn Belt is highlighting a tough debate about the future of corn-based ethanol used in our cars.

Congress is looking to cut the federal budget and one target is a key ethanol subsidy.

It’s a tax credit of about 4 and a half billion dollars, and it runs out by the end of the year.

Ethanol trade groups are fighting to extend that credit.

Tom Buis is CEO of Growth Energy.

He argues … we spend plenty of money for overseas oil … why not support home-grown ethanol?

“We create jobs, jobs that can’t be outsourced. I don’t know why we want to fund economies of foreign governments. We should be looking at spurring our own economic development here in the United States.”

Last year the Government Accountability Office questioned whether we need this particular ethanol tax credit, since the government requires gasoline refiners to blend-in billions of gallons of ethanol anyway.

For The Environment Report, I’m Shawn Allee.

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