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OXFAM AMERICA ETHANOL PETITIONSeptember 19th
WHAT IS ETHANOL? Made from anything with carbohydrates in it.
Along with biodiesel, corn based ethanol is one of the top biofuels in production.
Boosts octane and decreases toxic emissions like carbon monoxide
Lengthens life of the vehicle
RECENT MOVEMENT Subsidy-Financial assistance to a business or
economic sector.
VEETC- Volumetric Ethanol Excise Tax Credit 45-cent a gallon tax credit for gasoline blenders 54-cent a gallon tariff on imports $1.01 a gallon credit to cellulosic ethanol producers 10 cent a gallon small producer tax credit for ethanol
Oxfam relates to HR2307 Ethanol Subsidy Repeal Act
FOR TAX CREDIT Takes away jobs, close 2 out of 5 ethanol plants
operating today
Encourages investment in current and next generation ethanol technologies
By getting rid of VEETC, will prevent next generation biofuels from becoming commercially viable, 1st step corn, next step cellulosic ethanol
AGAINST TAX CREDIT Using tax payer money to “help” oil and ethanol
companies.
Ethanol has been subsidized since the 1970’s should be able to stand alone
Oil imported tariff free but clean energy has a tariff.
Has cost ~20 billion dollars in the last five years
OXFAM’S STANCE
40% of the US corn crop-15% of global corn production
Applies globally
Results in increasing global food prices.
Fifty organizations support the repeal
CELLUOSIC ETHANOL Production of ethanol from lignocellulose
has the advantage of abundant and diverse raw material compared to sources like corn and cane sugars, but requires a greater amount of processing to make the sugar monomers available to the microorganisms that are typically used to produce ethanol by fermentation.