Posted on 06/15/2008 2:31:29 AM PDT by AdmSmith
That means each tanker-load that makes the dash nets importers about $9 million dollars in tax credits from the IRS. Lawmakers have estimated its cost to Americans at tens -- or even hundreds -- of millions each year.Tax dodge. Thanks AdmSmith.
Oil companies spend more on taxes than on oil supply development
American Thinker | June 13, 2008 | Christopher Alleva
Posted on 06/13/2008 1:25:37 PM PDT by neverdem
http://www.freerepublic.com/focus/news/2030749/posts
This author has confused biodiesel with ethanol. Ethanol is what is produced with sugar cane. The blender's credit is a lot lower for ethanol than it is for biodiesel, but this article is only talking about biodiesel, which is made from soybeans here typically and from oil palms where they can grow those.
Has anyone investigated the legilative history of this subsidy? Someone put into a law that 0.1% American production was sufficient to make the entire load eligable for a $1/gallon subsidy. That Congressman is either stupid or crooked. I would like the name for that person.
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