Already gouging taxpayers for $25 billion in handout subsidies, the ethanol industry lobbying arm - the Renewable Energy Association - is now begging the government for another billion in short-term credit, along with up to $50 billion in loan guarantees to expand the diastrous industry.
In an even more evil move, the association is asking for the government to lower the existing 10 percent limit on how much ethanol can be added to fuel for regular cars and trucks. That has the potential to wreak havoc on the engines of the car, as those mixtures are unproven.
So what we have is a false market created by the government because it's great to get votes and give the illusion that jobs are being created. So now the non-market business needs to be bailed out in order to keep our politicians from looking like the uniformed, dangerous people they're increasingly becoming.
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