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Bush's Ethanol Bid Is Ignored by Exxon in Bear Market »

Posted by: STONERS 2 years, 9 months ago

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If President George Bush thought he had the remedy for America's oil woes when he proposed an increase in ethanol production, he's getting no support in the boardroom of the world's biggest energy company and no respect in the stock market, where producers of the corn-based fuel are among the biggest losers.

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Comments: 8

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STONERS
Jan. 29, 2007, 10:52 a.m.
Skeptics say ethanol will never become a significant part of energy use in the U.S. because the country can't produce enough corn. Based on current use, reaching Bush's 2017 goal would require more than 12.5 billion bushels of the grain, more than the nation's entire harvest last year. No grain would be left for hogs, cattle or chickens, or to make corn-based sweeteners for Coca-Cola Co. and other consumers.
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not2needy
Jan. 29, 2007, 11:36 a.m.
This is way too little way too late by the Bush administration. Why would he expect anyone to back him in anything?
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vinodxx
Jan. 30, 2007, 7:09 a.m.
US attacked Iraq,Afghan for OIL.
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johnthomas07
Jan. 30, 2007, 10:51 a.m.
Even though ethanol is heavilly subsidied it can not compete with $2/gal gasoline. And with corn at already $4/bushel, the longer prices stay at these levels, the more ethanol refiners will be forced out of business. Purely economics. The reason we can not replace gasoline with alternative fuels is because no other alternative can compete with gasoline. Like it or not, it is just the way it is.