If politicians actually from Iowa, the epicenter of corn-based ethanol, cannot be counted on to reliably support subsidies for the would-be “fuel of the future” then is there anyone left who will support it?
Outside of deficit hypocrite Senator Kent Conrad?
This was clearly intended to be a “gotcha” moment from Spitzer who hoped to catch Rep. King in a bit of fiscal hypocrisy. King didn’t give him the satisfaction.
Rep. King says that the subsidies were intended to get ethanol on its feet and that, since ethanol is apparently on its feet now, the subsidies can end. I’m not sure I can agree. I think the ethanol proponents know their gravy train is drying up, but that doesn’t mean they’re quite ready to let go of the government teet. Direct federal subsidies may end, but indirect subsidies – such as state-level support for blender pumps – will likely continue.
A lot of politicians have invested a lot of political capital in pitching ethanol to the public, and don’t underestimate the willingness of these politicians to spend our tax dollars to keep from having to admit that they were wrong.