Comments on: Reason.tv’s Drew Carey Project Episode 18: Ethanol - Silly Senator, Corn is for Food! http://blogofbile.com/2008/09/11/reasontv%e2%80%99s-drew-carey-project-episode-18-ethanol-silly-senator-corn-is-for-food/ from the bowels of the mind Wed, 07 Jan 2009 19:04:55 +0000 http://wordpress.org/?v=2.6.5 By: bile http://blogofbile.com/2008/09/11/reasontv%e2%80%99s-drew-carey-project-episode-18-ethanol-silly-senator-corn-is-for-food/#comment-2686 bile Mon, 15 Sep 2008 16:37:30 +0000 http://blogofbile.com/?p=1918#comment-2686 The government should not be subsidizing anyone. The fact that the blenders get the subsidy insentivizes them to use an inefficient fuel which raises prices. Regardless of the subsidy the blend is required by law. And ethanol corn does get direct subsidies. These regulations and subsidies are causing shortages on food, raising food costs, and misusing resources, raising energy costs. The government should not be subsidizing anyone. The fact that the blenders get the subsidy insentivizes them to use an inefficient fuel which raises prices. Regardless of the subsidy the blend is required by law. And ethanol corn does get direct subsidies. These regulations and subsidies are causing shortages on food, raising food costs, and misusing resources, raising energy costs.

]]> By: Robert W. http://blogofbile.com/2008/09/11/reasontv%e2%80%99s-drew-carey-project-episode-18-ethanol-silly-senator-corn-is-for-food/#comment-2685 Robert W. Mon, 15 Sep 2008 14:58:48 +0000 http://blogofbile.com/?p=1918#comment-2685 It is amazing that the internet allows this type of information to live and breathe.  The folks at Reason.TV should be a bit ashamed of their lack of concern for facts and spending more than 10 minutes to put this together.  If it just boils down to subsidies, which is where this really ends up in the end, then let's break it down a bit. The ethanol subsidy, the blender's credit, also known as the Volumetric Ethanol Excise Tax Credit (VEETC), is given to the blender of record.  This is typically not the ethanol producer, but the petroleum marketer who blends gasoline with ethanol for retail sale.  Seems a bit odd to call it the ethanol subsidy some days...  On the other hand, the petroleum industry actually receives the ethanol subsidy and has been subsidized on their own for nearly 100 years and is set to receive nearly $40B in taxpayer payments in the next 5 years, despite record shattering profits.  I guess by the logic of Reason.TV, we should immediately quit refining gasoline too. It is amazing that the internet allows this type of information to live and breathe.  The folks at Reason.TV should be a bit ashamed of their lack of concern for facts and spending more than 10 minutes to put this together.  If it just boils down to subsidies, which is where this really ends up in the end, then let’s break it down a bit.

The ethanol subsidy, the blender’s credit, also known as the Volumetric Ethanol Excise Tax Credit (VEETC), is given to the blender of record.  This is typically not the ethanol producer, but the petroleum marketer who blends gasoline with ethanol for retail sale.  Seems a bit odd to call it the ethanol subsidy some days…  On the other hand, the petroleum industry actually receives the ethanol subsidy and has been subsidized on their own for nearly 100 years and is set to receive nearly $40B in taxpayer payments in the next 5 years, despite record shattering profits.  I guess by the logic of Reason.TV, we should immediately quit refining gasoline too.

]]> By: mudshark http://blogofbile.com/2008/09/11/reasontv%e2%80%99s-drew-carey-project-episode-18-ethanol-silly-senator-corn-is-for-food/#comment-2631 mudshark Thu, 11 Sep 2008 15:12:06 +0000 http://blogofbile.com/?p=1918#comment-2631 way to completely <a href="http://www.youtube.com/watch?v=A9dV7Ej2H4A" title="STOP THE DRUG WAR!" rel="nofollow">miss the point</a>, Nick. way to completely miss the point, Nick.

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