European Producers Want Credit Relief

BY JOHN W. MILLER
BRUSSELS?European ethanol producers say the extension of a U.S. ethanol tax credit for 2011, approved by Congress last month as part of the $858 billion tax-reduction bill, could prompt them to file a trade complaint with the European Union. European producers failed in lobbying efforts to halt the credit, however, the extension would apply only on sales to U.S. buyers, and not on sales abroad. The tax credit has helped fuel record production by U.S. ethanol producers. Combined with high sugar prices in Brazil and a wheat shortage in Europe, the tax credit has made mostly corn-based U.S. ethanol the ...Powered By WizardRSSFree Energy Home Home Power Generator Green Energy Green Energy Sources Magnetic Generator