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Gore admits mistake.
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<blockquote data-quote="kenny thomas" data-source="post: 794526" data-attributes="member: 8993"><p>.From LMA website:</p><p>Gore: corn-based ethanol subsidies a mistake</p><p> Former U.S. Vice President Al Gore recently said "It is not a good policy to have these massive subsidies for (U.S.) first generation (corn-based) ethanol." His admission comes weeks before ethanol tax credits are up for renewal on Dec. 31. The livestock and meat industry has opposed the subsidies and tax credits, saying they divert massive amounts of corn away from livestock feed, thus raising the cost of corn and meat prices paid by consumers.</p><p> Gore told a recent Georgia business conference "one of the reasons I made that mistake" of supporting the subsidies "is that I paid particular attention to the farmers in my home state of Tennessee, and I had a certain fondness for the farmers in the state of Iowa, because I was about to run for president." As vice president, Gore cast the decisive 51st vote for the ethanol tax credit in 1994. Tax breaks for using ethanol make it profitable for refiners to use it, even when it is more expensive than gasoline.</p><p> Total U.S. ethanol subsidies in 2009 reached $7.7 billion, according to the International Energy Industry, which said biofuels worldwide received more subsidies than any other form of renewable energy.(quote)</p><p></p><p></p><p>Who would have believed it?</p></blockquote><p></p>
[QUOTE="kenny thomas, post: 794526, member: 8993"] .From LMA website: Gore: corn-based ethanol subsidies a mistake Former U.S. Vice President Al Gore recently said “It is not a good policy to have these massive subsidies for (U.S.) first generation (corn-based) ethanol.” His admission comes weeks before ethanol tax credits are up for renewal on Dec. 31. The livestock and meat industry has opposed the subsidies and tax credits, saying they divert massive amounts of corn away from livestock feed, thus raising the cost of corn and meat prices paid by consumers. Gore told a recent Georgia business conference “one of the reasons I made that mistake” of supporting the subsidies “is that I paid particular attention to the farmers in my home state of Tennessee, and I had a certain fondness for the farmers in the state of Iowa, because I was about to run for president.” As vice president, Gore cast the decisive 51st vote for the ethanol tax credit in 1994. Tax breaks for using ethanol make it profitable for refiners to use it, even when it is more expensive than gasoline. Total U.S. ethanol subsidies in 2009 reached $7.7 billion, according to the International Energy Industry, which said biofuels worldwide received more subsidies than any other form of renewable energy.(quote) Who would have believed it? [/QUOTE]
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