Tide ebbing for ethanol?

By Vincent Carroll
The Denver Post
Posted: 12/05/2010

This is stunning: "Producers of ethanol made from corn receive 73 cents to provide an amount of biofuel with the energy equivalent to that in one gallon of gasoline."

That's 73 cents in federal tax subsidies, says the Congressional Budget Office — or 45 cents for every gallon of ethanol blended into gasoline.

Do you suppose ethanol subsidies, totaling more than $6 billion, might be a good congressional target in an era of raging budget deficits?

I put that question recently to Colorado Sens. Mark Udall and Michael Bennet. Bennet's spokeman told me that while the senator "doesn't think we can afford to endlessly pump federal dollars into subsidies for mature energy sources at the rate we have been," he nevertheless "believes we need a more comprehensive approach that addresses these subsidies, be (they) for biofuels, oil and gas, or nuclear power."

(Read more: "Tide ebbing for ethanol?")

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