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We import over 50% of our oil. I do not think that was a correct statistic.
The big fear is that China is now consuming more and more oil so we need an alternative as oil is going to cost more and eventually run out. Not to mention the environmental impact.
The feds collect the full .18 a gallon on Ethanol blends but they give back .08 in the form of a tax credit. I cannot find the other subsidies that we provide.
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