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-- -- want to -- you have to sit down for this one it is an unbelievable case of government gone wild stay with me.
-- -- -- explained -- -- plan to make us less dependent on foreign oil and corn now these are good goals to do that the government is requiring oil refiners to blend millions of gallons of the substance called -- -- -- ethanol into gaps.
It's made from basic non food stuff like crop residue wood chips industrial sounds great right.
Guess what it doesn't exist.
In Kish is the senior -- The institute for energy research and he says.
This plan is sort of crazy let's start out with.
What -- elastic at -- -- it's kind of hard to say what it is you can make ethanol from industrial waste.
It's kinda hard to say and it's kinda hard to make Melissa and that's the problem.
The government mandated in 2007.
A certain percentage of our gasoline had to be made from this product they've they've theoretically would -- it by taking things we don't eat.
So we won't be burning -- our food.
-- million wood chips and -- -- entity I covered energy for a long time I didn't know if you could make.
Ethanol from wood chips or crop residue what is crop -- Well crop residue would be the things we don't -- the things that are left in the field it's also includes the president president's favorite.
LG we've heard him talk about how we're gonna -- -- -- LG future in President Bush it was switch grass so we've.
We've heard of all these things that they proposed.
Its bipartisan madness.
They put it in the law.
And they haven't been able to make one gallon so far of this product and yet they're fining people for not putting it into the gasoline so that they get.
-- -- government gets to find you for not putting a product that doesn't exist in the desolate.
-- the amount actually produced.
-- -- That's that's -- remains of -- an as a result.
They've had -- oil companies have had to pay a fine in order you not because they can't comply with lending it to -- to possibly doesn't exist.
That's right that -- fine they've had to pay a fine for were three years.
For a product that they're not supposed to make this is supposed to be made by companies that promised congress and the administration that they could produce this product.
They're getting grants are getting loans they're getting all -- the government support with all this green energy -- stuff.
Yet they can't make it in it it's it's equivalent to the government telling you that you have to -- Ride a unicorn.
To our work in if you don't.
Yeah I would be it be fun but.
If you don't run -- unicorn to work which doesn't exist we're gonna find it.
Right and -- fine -- far has been about ten million dollars.
So far yet close to close to about seven million dollars this year but is there.
It's not even the money did that that that matters as much as the principal here although -- by the time this program is done.
Based on the amount that there proposing for four -- Putting into the fuel system.
This could be billions and billions of dollars if they don't back off this so it's it's just crazy.
Listen he's crazy and those billions of dollars the ten millions apartment the number that -- I will be paying that because the oil companies of course are not gonna absorb that the price of -- gasoline at the pump will just rise as a result of that see you and I will be paying it.
Basically to me it just sounds like.
Eight tax or fee or -- high east.
That big government is letting against the oil companies -- -- -- just call -- that -- edit you know what it instead of hiding behind this whole idea.
You need to blend to speak fuel but doesn't exist that -- and it knows how to make that.
You know it's not available to you it why aren't they just straightforward about it saved by the way we're discharging got an extra ten million bucks this week.
Well exactly and the government has a right to be able live to reduce it to zero.
But rather than this year there was actually supposed to put 250.
Million gallons of this imaginary fuel into the into the gasoline.
They didn't produce any and so rather than drop -- it to zero the government said well we want you to put in.
About eight and a half million gallons -- -- They change the fake number that's why did he is only ten million dollars is generally does actually not that much the -- companies like you said it go up to billions but eight.
Reduce the amount of the -- fuel that they're supposed to blend some arbitrary other smaller amounts.
And it's -- It exactly and if it if it got to be what would make sense what went every American would do is -- to zero because there's none of it and wait until they begin to prove citi's.
Government run amok okay phantom fuel.
Yeah all right -- you so much for clearing that up my conclusion is that about the EPA has lost its mind I think that's sort of what we get from this and thank you for straightening us out.
We appreciate your time.
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