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| Ethanol exec: Why does federal government prop up oil industry? |
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Dear Editor,
Why does our nation continue to subsidize oil companies? A recent study from the International Energy Agency found fossil fuel companies reaped $550 billion in subsidies in 2008 alone. That is enough money to cover Ohio’s projected budget shortfall 68 times over.
It is time to work towards ending subsidies to these companies that are earning billions of dollars in profit each quarter.
Ethanol advocacy group Growth Energy has introduced a plan called Fueling Freedom that would end the subsidy oil companies receive for blending cleaner burning and less expensive ethanol in their gasoline. It proposes to direct these funds towards building ethanol infrastructure, with the ultimate goal of phasing out government support and moving to a free-market approach.
Ohio’s ethanol industry can compete with gasoline, provided there is a level playing field and the consumer has options. Moving to end oil subsidies is a good step down this path. The end result will be more jobs for Americans, a cleaner environment and an increase in our nation’s energy independence.
Mark Borer
President, Ohio Ethanol Producers Assoc.
Leipsic, Ohio |
| 9/1/2010 |
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