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The Overselling and High Costs of Bio-Fuels

Article by Bernard L. Weinstein February 13, 2013 //   1 minute read

Bernard L. Weinstein, National Journal Corn-derived ethanol has been heralded as the magic potion that can drive us to the promised land of energy freedom while at the same time slowing global warming and helping America's farmers. To those ends, and to appease rural voters, Agriculture Secretary Tom Vilsack wants petroleum companies to increase the amount of ethanol blended with gasoline above the currently mandated level of 10 percent. This is not a surprising request, considering the industry's facilities are 20 percent idle, several large ethanol refiners have filed for bankruptcy, and the 46 cents per gallon tax credit has expired. Read More