The US will not end government support and protections for the ethanol industry before it is appropriate to do so and certainly not before the end of 2008, Energy Secretary Samuel Bodman said on Wednesday.
I'm going to quote from a report by Stephen Burns in ICIS news yesterday
(Disclosure: I work for ICIS)
"No-one in the administration is looking to end the tariff [on imports] or subsidy prematurely," Bodman told reporters.
So all the American consumers who would directly benefit from cheaper ethanol to blend with gasoline are less important to the administration than the farmers or distillers or blenders of ethanol with gasoline in the US... and the US expects Brazil to help counteract the effects of Hugo Chavez in South America in return for what exactly?
Can anyone explain US ethanol policy in a coherent way to me. There'll be a small prize for the best answer in under 50 words