Earthtrack in the Media

Biofuel Subsidies Cost U.S. Billions

Biofuel Subsidies Cost U.S. Billions
By Philip Brasher, Des Moines Register 
October 26, 2006

America needs to rethink the cost of its appetite for biofuels, according to a European research group.

The Global Subsidies Initiative, based in Geneva, Switzerland, totaled up the cost of all the tax breaks, direct subsidies and other benefits for corn-derived ethanol, and it estimates that the assistance will cost U.S. taxpayers at least $5.1 billion this year.