Morningstar analyst Ann Gilpin, on ethanol mandate rollbacks: ”Consumers are starting to get restless and Washington is starting to listen. If you sell one product and the only reason there’s a market for it is because the government makes a law requiring consumption.”
Senator John Sununu of New Hampshire: “Food prices are at record levels. This year, 30 percent of our corn harvest will go to ethanol production, yet New Hampshire families pay for this misguided policy at the grocery store checkout counter and through increased tax subsidies. The Bureau of Labor Statistics reports that food inflation is rising by 4.9 percent per year, and other studies predict higher increases in the future. Our current ethanol policy is a bad deal for New Hampshire families, small businesses and food banks because it distorts market forces, increases prices and prevents competition.”
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