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The Ethanol Black Hole

By The Daily Dish

Jan 9 2009, 5:02 AM ET

Ronald Bailey summarizes a new study:

The Environmental Working Group has just issued a report that finds that 75 percent of all renewable fuels tax subsidies in 2007 went to environmentally damaging corn-ethanol production. In addition, the corn ethanol industry, teetering on the edge of collapse despite billions already wasted in subsidies on it, now wants additional billions for a bailout.



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