U.S.-Produced Subsidized Ethanol Exports are at a Record , the FT Reports

Bloomberg
By Alan Purkiss - Nov 15, 2010 3:38 AM CT

U.S.-produced ethanol, subsidized by the federal government as an alternative to foreign oil, is being exported in record quantities, the Financial Times reported.

A U.S. tax credit to companies that blend ethanol with petrol expires at the end of the year, the newspaper said.

Government figures last week showed that 251 million gallons of fuel ethanol, mostly refined from corn, were exported in the first nine months of the year, more than double the total in 2009; actual exports may have been higher, since ethanol mixed with gasoline before shipment isn’t counted, the FT said.

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