First hint: 54-cent-a-gallon ethanol tariff may shrink under 2009 budget
Not everyone is in favor of that kind of change. Senator Chuck Grassley (R-IA) said that:
By lifting the ethanol tariff, we'd end up subsidizing Brazilian ethanol. I can't figure out why Secretary Bodman would want the United States to risk becoming dependent on Brazilian ethanol when we're already dependent on Middle East oil. His comments really do a disservice to President Bush who has been the most pro-ethanol president we've ever had. In addition, the United States already provides duty-free treatment for Brazilian ethanol that is merely dehydrated in the Caribbean Basin Initiative countries. Brazil has yet to make full use of this program. I don't see why we should bend over backwards to provide yet more duty-free treatment for Brazil's ethanol producers.
We'll know more tomorrow, but this could be decent-sized news.
[Source: Domestic Fuel, Senator Chuck Grassley]
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