Oh my god, I don't know if I can live with myself. I find myself in full agreement with Democrat Senator Dianne Feinstein.
At the stroke of midnight on December 31 of this year, the 45¢ per gallon Volumetric Ethanol Excise Tax Credit (VEETC), commonly known as the blender’s credit, and the 54¢ per gallon tariff on imported ethanol, will expire.
Sen Feinstein with 17 other bi-partisan senators say it’s time for these special-interest giveaways to go gently into the night. A broad coalition of environmental, taxpayer, hunger, free market, and food industry organizations are urging House and Senate leaders to let the VEETC meet its statutorily appointed fate.
Ethanol as a fuel is a loser on many levels (Real Science - Ethanol is a loser). But this is just further proof that we have Too Much Government! Letting the VEETC expire will save us $25-30 billion over the next five years and relieve the upward pressure on food prices that using crops and crop land for fuel has caused.
Even Al Gore agrees that Ethanol is a loser and that he promoted it to get corn votes (read about it here).