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Originally Posted by HoosierRon
Cheap OPEC oil? The United States DOES NOT HAVE 700 billion dollars to give away every year. That is what is damaging our economy, not paying an extra 5 cents for a box of corn flakes.
Furthermore, it is curious that you embrace studies from the likes of Greenpeace, but ignore those by Merrill Lynch that concludes gasoline is 50 cents per gallon cheaper because of ethanol.
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Fear mongering statements such as these will give you little credibility.
Last time I checked, "giving away" means you receive nothing in return. We are
buying oil from an international market - because we have determined that is cheaper to buy it from them than produce it ourselves. The plethora of restrictions placed on our local industries has forced them to look elsewhere for cheaper sources of material. That's what you do when you have an international/free trade economy. And if you'd do a search for inflation over the last year or so, I think you'll find that it's much higher than "5 cents for a box of corn flakes." Inflation has increased faster over the last year than probably ever before in US history, and produce is one of the worst hit categories.
And claiming that Ethanol has saved us 50 cents on a gallon of gas is also misleading. Does that take into account the reduction in fuel economy caused by ethanol blends? I highly doubt it. And seeing as how a large percent of the US has little to no access to ethanol blends, I can hardly believe 50 cents a gallon of savings. That's 12% at $4.00 gas. A bit of a stretch in my opinion.