Ethanol Makers Seek Political Advantage In Detroit Bailout

CNN Money.com
November 25, 2008: 01:28 PM EST

WASHINGTON -(Dow Jones)- U.S. ethanol makers are asking the Detroit automakers to demonstrate "with certainty and specificity" their commitment to biofuels, seeking to gain political advantage at a time when the car industry is struggling to line up support for an emergency $25 billion loan.

The call came in a letter from a coalition of ethanol trade groups to the chief executives of General Motors Corp. (GM), Ford Motor Co. (F) and Chrysler LLC. The executives flew to Washington on corporate jets last week to plead for the $25 billion, only to return empty-handed after Congress demanded specific details about how they would become profitable and develop a new generation of more environmentally friendly cars.

"To avert dire economic consequences, we implore you to bring resourceful, innovative and practical solutions as you develop the comprehensive plan requested by the U.S. Congress to transform your industry," the groups wrote Tuesday. "Such a plan should embrace and support implementation of the congressional mandate for use of ethanol."

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