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Gore admits mistake.
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<blockquote data-quote="kenny thomas" data-source="post: 795801" data-attributes="member: 8993"><p>From agcenter.com:</p><p>ETHANOL SUBSIDIES AND TARIFFS</p><p></p><p>The late week spurt in corn prices was a quick reminder of the threat to food cost posed by ethanol production. This week's rally was more in sympathy with global concerns for the wheat stocks but ethanol demand remains in the background as a constant push to corn prices.</p><p></p><p>Politicians and lobby groups are taking up the cause of rapidly rising deficits and parallel rising food costs. A broad coalition of conservative and liberal groups called for an end to ethanol subsidies and import tariffs. Environmental groups are joining forces with meat lobbyists to let the subsidies expire this year without renewal. </p><p></p><p>The backoffice deals are fast and furious with the following proposals on the table.</p><p></p><p>•Iowa senators are calling for renewal of the same level subsidies as you would expect from a corn state senator.</p><p></p><p>•17 Senators from all political persuasions drafted a letter calling for letting the subsidy and tariff expire this year. </p><p></p><p>•A plan to reduce the subsidy to 30 cents from the current 45.</p><p></p><p>•A plan to reduce the subsidy to 37 cents.</p><p></p><p>Congress's failure to present any plan would naturally let the subsidy expire and remove the tariff. Political watchers have learned to never depend on the rational response to lawmaking. The beef industry has continually backed an end to the supports that almost all economist have deemed bad for the environment, a proven threat to food costs, and uneconomical in attempting to relieve dependence on foreign oil. </p><p></p><p>The extension of the Bush tax cuts will remain front and center and it is likely no legislation will occur this year until this issue is resolved. Also looming in the background are death taxes that also are set to expire this year, returning estate taxes to the 55 percent level. </p><p></p><p>In a surprising development, Obama seems to be backing away from the supports for ethanol subsidies. It may be that this is a sign of movement back to the center of the political spectrum following the recent election. One can only hope for some reason to enter the minds of legislators as they represent the country's best interest.</p></blockquote><p></p>
[QUOTE="kenny thomas, post: 795801, member: 8993"] From agcenter.com: ETHANOL SUBSIDIES AND TARIFFS The late week spurt in corn prices was a quick reminder of the threat to food cost posed by ethanol production. This week's rally was more in sympathy with global concerns for the wheat stocks but ethanol demand remains in the background as a constant push to corn prices. Politicians and lobby groups are taking up the cause of rapidly rising deficits and parallel rising food costs. A broad coalition of conservative and liberal groups called for an end to ethanol subsidies and import tariffs. Environmental groups are joining forces with meat lobbyists to let the subsidies expire this year without renewal. The backoffice deals are fast and furious with the following proposals on the table. •Iowa senators are calling for renewal of the same level subsidies as you would expect from a corn state senator. •17 Senators from all political persuasions drafted a letter calling for letting the subsidy and tariff expire this year. •A plan to reduce the subsidy to 30 cents from the current 45. •A plan to reduce the subsidy to 37 cents. Congress's failure to present any plan would naturally let the subsidy expire and remove the tariff. Political watchers have learned to never depend on the rational response to lawmaking. The beef industry has continually backed an end to the supports that almost all economist have deemed bad for the environment, a proven threat to food costs, and uneconomical in attempting to relieve dependence on foreign oil. The extension of the Bush tax cuts will remain front and center and it is likely no legislation will occur this year until this issue is resolved. Also looming in the background are death taxes that also are set to expire this year, returning estate taxes to the 55 percent level. In a surprising development, Obama seems to be backing away from the supports for ethanol subsidies. It may be that this is a sign of movement back to the center of the political spectrum following the recent election. One can only hope for some reason to enter the minds of legislators as they represent the country's best interest. [/QUOTE]
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Gore admits mistake.
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