Guns, Ethanol, and the Regulation of the Day
Stimulus dollars were used in a federal program to purchase guns for Mexican drug cartels. The purpose of the program was to help law enforcement track down gun traffickers.
"This is not the only way the Obama administration bungled its handling of Mexico. It wiped out thousands of jobs in our export sector, by committing a minor NAFTA violation that led to major Mexican tariffs against $2.4 billion in American exports (the violation in question blocked a measley 97 Mexican truckers from U.S. roads. Mexico retaliated with tariffs on 90 American products)."
Despite criticism of ethanol subsidies, a new compromise would secure tax credit extensions for cellulosic ethanol.
"Politicians seeking rational energy policy should not agree to this compromise. The ethanol industry is against the ropes: they are outnumbered in both the House and the Senate, and its not clear they can stick their policy hopes deep into any large bills later this year. The fuel has had decades to become cost competitive with petroleum, and despite enormously high oil prices the industry has been unable to meet this challenge."
Regulation of the Day