Once heralded as the key to kicking America’s foreign oil addiction by Republicans and Democrats alike, ethanol’s political fortunes have faded and the industry’s future is unclear amid a growing chorus of critics.
The industry lost more than $6 billion in annual tax breaks along with a valuable import tariff when Congress declined to renew the subsidies at the end of last year. Several trade groups are now attacking ethanol’s last federal redoubt: The Renewable Fuel Standard (RFS), which mandates oil producers blend a certain amount of ethanol with traditional gasoline."......................................................................................................................................................"Thirteen Republicans from farm states voted to block the elimination of the $6 billion in ethanol subsidies last year when Sen. Tom Coburn (R., Okla.), one of the upper chamber of Congress’ staunchest fiscal hawks, forced a vote on it."
