Thursday, February 08, 2007

Brazil and US to partner on ethanol

I have to say I'm surprised. Who would have thought the Bush administration would have the foresight to Seek a Partnership With Brazil on Ethanol?

Apparently, the national security argument is winning the day. "For the United States, the initiative is more than purely economic. Venezuelan President Hugo Chávez has exploited regional frustrations with the market-driven economic prescriptions that the United States has promoted throughout the region for years, and he has used oil revenue to promote several regional economic alliances."

We currently slap a $.54/gallon import duty on ethanol. Does that seem stupid to anyone else?