Clinton ethanol legislation support linked to campaign contributions, personal investments in ethanol

February 28, 2008

In New York, reports have linked Senator Hillary Clinton to investments in several ethanol projects owned indirectly by controversial international investor Ron Burkle. The New York Times reported that President and Senator Clinton hold interests in several projects owned by Yucaipa, a private equity fund founded by Burkle, as compensation for advisory work done by the former President for the fund.

Burkle has raised more than $100,000 for the Clinton presidential campaign, and Senator Clinton has sponsored legislation to provide massive government investments in ethanol. Yucaipa has, in turn, invested in numerous ethanol companies, including Cilion.

The Miami Herald published a comparison of the climate change policies of the key remaining US Presidential candidates, but it did not show a significant difference between proposed policies on biofuels for Clinton compared to other leading candidates. Sen. Clinton voted for the Senate energy bill, and supports $2 billion in additional biofuel development.

Clinton’s program calls for a 10-year, $150 billion energy and climate change plan. The plan included increased CAFE standards for fuel efficiency to 55 miles per gallon, reducing oil imports by 66 percent by 2030, and reducing greenhouse gas emissions by 80 percent by 2050. The plan projects that 5 million jobs would be created in the alternative energy sector as a result.

Former US President Bill Clinton’s Clinton Global Initiative, is highly active in international biofuel policy, and hies ties to Ron Burkle’s interested have been widely reported. However, the Clintons reduced ties with Burkle as the campaign got underway.Â President Clinton’s Vice-President, Al Gore, recently won the Nobel Peace Prize for his activities in behalf of climate change.

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Written by Jim Lane · Filed Under Policy