I spent the morning reading a bunch of blog posts about John McCain’s Lexington Project. As I mentioned yesterday, I am very excited to see this proposal. Is it perfect, no, but it is at least a stake in the ground.
Over the next couple weeks, I plan on exploring each section of the Project in more depth, please make sure that you actually read the full document. It is more than what is generally highlighted in the mainstream media.
So, while reading the various blogs, what was the most interesting thing that caught my eye? Many blogs use Ads by Google to help generate some income. Look at the common ads that were run on sites that discussed The Lexington Project. Look interesting?
Ads by Google
Oil Industry
The Truth About Oil & Gasoline From Experts. Learn More & Get Tips Now!
EnergyTomorrow.org/OilBuy Energy Vending Route
Exclusive Locations – Energy Bites! Energy Vending Machines For Sale
EnergyVendingBusiness.com/EnergyHow can we power a planet
hungry for electricity without damaging it? Siemens answers.
www.siemens.com/answersThe Bakken Oil Formation
The New Black Gold Rush Is On. Early Profits Revealed: New Report.
EnergyAndCapital.com/Bakken_Oil_Rpt
Well, I am glad to know that no matter what happens, Google will continue to be the middle man and make their money. 
US Taxpayers are getting screwed out of millions of dollars by a biofuel subsidy that helps to lower gas prices in Europe. Last year this subsidy cost the American taxpayer $300 million, and it’s projected to cost the American taxpayers $600 million in 2008.
The scam is known as “splash and dash.” It consists of an existing $1 subsidy for every gallon of biodiesel fuel blended with regular diesel in the United States. Biodiesel is produced abroad and shipped to the United States, where it’s blended with just a “splash” of regular diesel. For example, a tanker-load of about 9 million gallons of foreign biodiesel requires just 9,000 gallons of American diesel to make it qualify for the subsidy. But every gallon in the shipment receives a $1 subsidy that is paid by the US Government. The ship then makes a “dash” for Europe.
Each load of biodiesel, made from South American sugar cane or Asian palm oil, generates $9 million in tax credits for the importer/exporter. Congress and the National Biodiesel Board know the loophole is being exploited, they can see that the US is exporting much more biofuel than it is producing. But, they claim that they are unable to identify the companies that are “stealing” our money.
We need to immediately end “splash and dash” by eliminating the subsidy for any biodiesel exported from the United States. We all should be outraged that we are subsidizing Europe’s use of biodiesel at our own expense.
Filed in Energy-Independence, Oil Companies, Politics, Scam
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Also tagged american diesel, american sugar, american taxpayer, american taxpayers, asian palm oil, biodiesel, congress, Dash, Europe, gallon, gas prices in europe, importer exporter, loophole, national biodiesel board, shipment, South American, subsidy, sugar cane, tax credits, united states, US, us government
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