Building on his recent State of the Union Address, President Barack Obama is continuing his push for energy reform and the adoption of new renewable energy programs. Critical to these energy reforms are federal policies that offer farm loans and farm subsidies to ethanol and other bio-fuel producers. While not specifically featured in the State of the Union, the Obama administration has been remarkably supportive of the ethanol industry and his Department of Agriculture has made ethanol production a top priority. By offering farm loans and federal support for the production of corn ethanol, the federal government has signaled its support for energy reform.
President Obama's support for the ethanol industry has been unequivocal over the past several years, often extending beyond offering farm subsidies and farm loans for corn growers. Last year, for example, Obama directed the USDA to support the creation of 10,000 ethanol flex-fuel pumps in the US. In addition, the USDA and the Obama Administration have thrown their weight behind continuing tax credits for ethanol producers, farm loans and subsidies for commodity growers, and tariffs on foreign ethanol, all policies aimed at stimulating domestic production of major bio-fuels.
Politics
In addition to corn ethanol production, the Obama Administration and congressional leaders have expanded federal aid to include other forms of bio-fuels. In January, the USDA announced expanded support for farm loans and farm subsidies for farmers and energy producers involved in the creation of cellulosic ethanol production. The organization recently announced several million dollars of federal loans dedicated to the construction of bio-refineries across the country, including projects in Oregon and Iowa. Funding is directed in the form of agricultural loans, farm subsidies, and tax credits to farmers participating in the production of the various woods, grasses, and non-edible plants that can be refined into bio-fuels.
Ethanol producers across the country have praised the Obama administration and congressional supporters for their commitment to energy independence, which, they believe, can only be achieved through ethanol production. Farm loans, farm subsidies, and tax credits are all important tools that can be used to create renewable energy programs across the United States. The importance of the bio-fuel industry is apparent in the bipartisan support for farm loans and farm subsidies devoted to bio-fuel creation. In addition to Barack Obama, major Republican presidential candidates like Mitt Romney and Newt Gingrich have supported the bio-fuel industry (although to varying degrees). With the Republican primaries heating up and the 2012 Presidential Election looming, farmers, investors, and pundits all anticipate agriculture loans, farm subsidies, and ethanol production will dominate American politics for the next several months.
Obama Backs Ethanol Production
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