Sunday, May 08, 2011
US taxpayers subsidize ethanol exported to Brazil
The Financial Times reports that Brazil has been importing record amounts of ethanol - almost all from the US - because US ethanol is the "most competitive" on price. And what helps keep US ethanol prices low? Six billion in ethanol subsidies paid by US taxpayers to ethanol producers.
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Here in Brazil nobody is using ethanol because the prices are very hight. So, where is this ethanol going ???!
It is being used to bring down the prices by increasing supplies, see this:
http://br.noticias.yahoo.com/pre%C3%A7o-dos-combust%C3%ADveis-cai-partir-desta-segunda-afirma-151600405.html
Quote from the above article: "SÃO PAULO – Os preços dos combustíveis nos postos devem cair a partir desta segunda-feira (9), afirmou o ministro de Minas e Energia, Edison Lobão."
Dalcio
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