(1995) Cato org says$1 of ADM ethanol profit costs taxpayers $30

[underpants]

FYI


Archer Daniels Midland:
A Case Study In Corporate Welfare
September 26, 1995
http://www.cato.org/pubs/pas/pa-241.html

Executive Summary


The Archer Daniels Midland Corporation (ADM) has been the most prominent recipient of corporate welfare in recent U.S. history. ADM and its chairman Dwayne Andreas have lavishly fertilized both political parties with millions of dollars in handouts and in return have reaped billion-dollar windfalls from taxpayers and consumers. Thanks to federal protection of the domestic sugar industry, ethanol subsidies, subsidized grain exports, and various other programs, ADM has cost the American economy billions of dollars since 1980 and has indirectly cost Americans tens of billions of dollars in higher prices and higher taxes over that same period. At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its ethanol operation costs taxpayers $30.

[Perry Logan]

1. Excuse me--it's the bloody CATO INSTITUTE!

[Solon]

2. I agree, to an extent, but facts are facts...

it costs about 3 BTUs of energy to produce 1 BTU worth of ethanol, and all of that energy comes from Oil.

[JesterCS]

4. Yes but

if you watched a few documentaries about ethanol, especially sugar cane made ethanol, the husk/roots/stalk that are leftover are used to full the processes that are needed to make the ethanol. If only that works with corn.

[high density]

3. CATO actually once cared about corporate welfare?

Amazing.