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I thought one of the purposes of the BTU tax was to make the U.S. energy-independent and thus not at the mercy of OPEC. Now President Clinton comes along and says that the BTU tax will apply to ethanol, too. Does this make sense? It makes just about as much sense as giving cheap corn to the Russians.
If we’re going to give corn away as we did recently when the Russians defaulted on millions in loans guaranteed by the government, why not give the farmer a break? At least let him get the cost of production out of his corn by not depressing already low prices with a big BTU tax on ethanol.
