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Buy My Cornpile
Finally, a bailout for ethanol producers. Why not? Iowa's presidential caucus is earlier than the Michigan primary, anyway.
"Some plants are under pressure because they've been speculating on corn," [Agriculture Secretary Ed] Schafer told reporters after speaking at the World Food Prize symposium breakfast.
The secretary said the department wouldn't buy or sell grain or cover trading losses. Rather, he said, money could come from the USDA's Rural Development office, which can provide up to $25 million to keep rural businesses operating.
The idea isn't getting a lot of attention in the final weeks of a presidential race, although Rep. Jeff Flake has spoken out.
“The federal government’s ethanol policies have driven up the price of corn,” said Flake. “But rather than reforming the policies that have caused a spike in corn prices, the federal government wants to bail out ethanol producers who speculated on the price of corn. Only the U.S. Department of Agriculture could dream up a policy like this.”
Flake said tax breaks and credits for ethanol producers should be repealed. “The high price of corn has had a ripple effect over our entire economy. Instead of trying to bail out every industry hurt by it, the federal government needs to take a serious look at reforming our ethanol policies,” said the East Valley Republican.
I realize this is an executive branch program, and this is unrelated, but: I'm not looking forward to this lame duck Congress. I don't think there'll be a lot of agreement with Flake.
TallDave|10.23.08 @ 2:10PM|#
They should pass flexfuel mandates, end the subsidy, and allow
Brazil to sell us ethanol.
I mean, really. Saudi Arabia and venezuela get to sell to us with
no tariff, but the Brazilians need to be kept down?
We'd have cheaper gas and less dependence on bad people.
Naga Sadow|10.23.08 @ 2:16PM|#
TallDave,
Fuck you. Most cars don't run well on flex fuel. Mine included.
|10.23.08 @ 2:18PM|#
Alcohol from corn may the most inane government boondoggle of my life. It sure is maddening to see it still has legs.
TallDave|10.23.08 @ 2:21PM|#
Fuck you. Most cars don't run well on flex fuel. Mine
included
Um. I think you're a bit confused. Flexfuel means you can use
either.
The mandates are for new cars to be able to use
alcohol fuel -- or regular gas if you want to keep using that. When
oil is cheap, use oil. When oil is expensive, use ethanol.
Naga Sadow|10.23.08 @ 2:23PM|#
Ahhhhhhh . . . I believe you are correct. My apologies. No real harm meant.
|10.23.08 @ 2:26PM|#
"Fuck you. Most cars don't run well on flex fuel. Mine
included."
That's okay. You can get a subsidy too! Subsidies for everyone!
|10.23.08 @ 2:27PM|#
"Alcohol from corn may the most inane government boondoggle of
my life. It sure is maddening to see it still has legs."
You take that back you son of a bitch!
(Downs bourbon)
Elemenope|10.23.08 @ 2:28PM|#
You take that back you son of a bitch!
(Downs bourbon)
Well played, sir.
Guy Montag|10.23.08 @ 2:28PM|#
TallDave,
They should pass flexfuel mandates, end the subsidy, and allow
Brazil to sell us ethanol.
So, lemme get this straight, you want to pay me to install the same
EFI systems on my 1972 Charger and the [yet to be purchased] Dodge
car hauler even though I was going to do that anyway?
I demand a magic pony too!
|10.23.08 @ 2:30PM|#
They should mandate that cars run only on bourbon. Then they
could arrest your car for drunk driving.
(rimshot)
Naga Sadow|10.23.08 @ 2:36PM|#
Mike,
Only the crap bourbon. No Blantons, Bookers, or Basil Hayden wasted
on cars.
Naga Sadow|10.23.08 @ 2:37PM|#
Guy,
72' Charger. Freakin' sweet! I got a 97' Z28 and I crave a 67'
Camaro.
Dr. Yogi |10.23.08 @ 2:43PM|#
Really, no response from Hit & Run yet about Greenspan's supposed flaw in free markets? People assume Greenspan is an economic wizard. They're going to assume this means the end of free markets idealogy.
Elemenope|10.23.08 @ 2:44PM|#
People assume Greenspan is an economic wizard.
Who, exactly, is "people"?
Guy Montag|10.23.08 @ 2:47PM|#
Blue,
If you have to get your pony drunk . . .
BTW, I may have found a cool truck to
turn into a car hauler. Not a MOPAR, but still cool.
|10.23.08 @ 2:49PM|#
Greenspan evidently determined that no, in fact, he had not done
enough damage during his tenure as Fed chairman.
Remember when this idiot used to call himself a libertarian?
Paul|10.23.08 @ 2:50PM|#
"Some plants are under pressure because they've been speculating on corn,"
Some 'plants' are under pressure 'cause of corn speculating. That's
funny, that's really... that's... nevermind.
Naga Sadow|10.23.08 @ 2:51PM|#
Mike,
When did he call himself libertarian? I know that he went out of
his way to distance himself from Ayn Rand.
Paul|10.23.08 @ 2:54PM|#
Really, no response from Hit & Run yet about Greenspan's
supposed flaw in free markets? People assume Greenspan is an
economic wizard.
Greenspan has completely miscalculated. But not how he
thinks he miscalculated. Greenspan underestimated the power of
moral hazard.
Bailouts all around. Proceed to invest and spend as you will.
Guy Montag|10.23.08 @ 2:58PM|#
When did he call himself libertarian? I know that he went
out of his way to distance himself from Ayn Rand.
He did that after years of being in her inner circle, going to the
little though meetings at her apartment in NYC and all of
that?
Or perhaps he was cast-out! [diobolical laugh]
|10.23.08 @ 2:59PM|#
You take that back you son of a bitch!
(Downs bourbon)
You get government bourbon? Damn, I though you could only get
cheese.
Naga Sadow|10.23.08 @ 3:02PM|#
Guy,
Well she was known to tolerate no dissent in the ranks.
Buddy Holly,
Also orange juice and powdered milk. I hear that they now give real
cinnamon toast crunch.
BakedPenguin|10.23.08 @ 3:11PM|#
Since this thread has been jacked to talk about cars, (threadcarjacked?) anyone who's interested in a '70 Corvette should look here.
Guy Montag|10.23.08 @ 3:13PM|#
BP,
Cool, but I am loyal to MOPAR. Unless I find something else cool,
like that IH truck, as long as it is not a ford or GM, or
'foreign'.
Otherwise, 'vettes are fine ;)
|10.23.08 @ 3:29PM|#
Cool, but I am loyal to MOPAR. Unless I find something else
cool, like that IH truck, as long as it is not a ford or GM, or
'foreign'.
Reading the news, it would appear that Chrysler, Dodge, Plymouth,
and Jeep will be GM nameplates before the end of the year.
|10.23.08 @ 4:09PM|#
That flatbed would be just the thing for a Charger, if you soup up the hydraulics so it will fling the Charger into the Grand Canyon. Or possibly just "flyswatter" the car flat, in the driveway.
|10.23.08 @ 4:09PM|#
Look, all we have to do to kill ethanol is find some way to use
it to make drugs
It's really very simple
|10.23.08 @ 4:12PM|#
We need some youtube footage of eight-year-olds huffing the exhaust pipe of Daddy's flex fuel Suburban.
TallDave|10.23.08 @ 8:36PM|#
Otherwise, 'vettes are fine ;)
Very fine indeed. I'm going to miss it thie winter. Not much point
in driving with the top up though.
PicassoIII|10.23.08 @ 10:43PM|#
Buddy Holly...
Thank you, needed the laugh. It's been a little too serious round
here.
I don't care if gas prices are comming down. I still laugh at both
detroit gas hogs AND hybrids
1.5 litres
of fury
shiny
Ah but what is it?
Tada!
Ok, corvettes deserve recognition but no quarter given..
Maybe more
seat time, less chrome.
|10.24.08 @ 11:16AM|#
I realize this is an executive branch program, and this is unrelated, but: I'm not looking forward to this lame duck Congress. I don't think there'll be a lot of agreement with Flake.
The lame duck Congress? You should worry about the next Congress
and President as well, since it looks like it'll be even more
pro-ethanol (and pro-ag subsidies) than the last. But of course
you're not anti-ethanol enough to change your presidential vote on
it. No one is. Plenty of corn farmers will vote for whoever is
pro-ethanol, but speak out against it and you'll get some
occasional appreciative notices at the Reason debate live chat and
elsewhere, but no one who wasn't going to vote for your before is
going to vote for you now based on it.
They should pass flexfuel mandates, end the subsidy, and allow
Brazil to sell us ethanol.
So you're a McCain supporter then, TallDave? Or just agree with him
on this issue?
db|10.24.08 @ 2:25PM|#
72' Charger. Freakin' sweet! I got a 97' Z28 and I crave a
67' Camaro.
What's this, alternate timeline day? I remember back in 84', when
Apple-prime came out with the Granny Smith. What a computer!
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