As oil prices have soared in recent weeks, so have retail gasoline prices. But what about biofuel prices? Why is the cost of crop-based fuel going up just as fast as regular gas?
A thoughtful reader recently asked me about the pricing of E85, a biofuel that contains 85 percent ethanol, which is made from corn, and 15 percent gasoline; and is available locally at various gas stations.
Here’s the reader’s question and an answer from a University of Tennessee expert.
Corporate tax reform is the topic when Treasury Secretary Timothy Geithner meets today with business executives.
That should be a fun. Corporate America likes its tax breaks and any attempt to close loopholes will face serious opposition from somebody.
CNNMoney.com asked six tax policy experts which tax breaks should be eliminated.
Among their recommendations: dump the 45-cent per gallon tax credit oil refineries take for ethenaol blended gasoline. Getting rid of that tax break would save $32 billion over five years.
It will be interesting to see which politicians, if any, have the guts to challenge Big Oil on this one.
Here’s the CNNMoney story: Corporate tax reform: Talk grows louder
Photo: Treasury Secretary Timothy Geithner (AP)