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August 13, 2012
(Photo: Jim Lo Scalzo / EPA)
President Barack Obama announced emergency measures Monday to ease the impact of the worst drought in half a century, but stopped short of waiving the government’s requirement that a large portion of the now-shriveled corn crop be diverted to make ethanol.
Obama announced that the Department of Agriculture will buy up to $170 million of pork, lamb, chicken and catfish to help support farmers suffering from the drought. The food purchases will go toward “food nutrition assistance” programs, like food banks.
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This seems like a good expense on the USDA’s part. Read up on the corn crisis in our piece from a few weeks ago.
18:29 // 1 year ago
June 16, 2011
The best way for ethanol to survive is to stand on its own two feet, without spending something we don’t have to get something we’re going to have anyway.
Sen. Tom Coburn • Making an argument against handing out ethanol subsidies — which cut gas prices but also cost the federal government $6 billion per year. An amendment to kill the subsidies passed both the House and Senate. In the case of the Senate, it was a straight-up bipartisan vote: 73-27. And a number of groups — including environmental groups — note that the subsidies are no longer needed because the federal government already requires refineries to mix ethanol and gasoline. However, don’t get too excited, budget hounds: The amendment is tied to an economic development bill that likely will not pass. source (via • follow)
20:48 // 2 years ago