Formerly NE North Dakota, now NW MN | I could mention that that would be like a 3 billion/yr. tax on ND but...... I'll (sort of) refrain.
My first reaction was also that that idea will be DOA in congress, however.... absolutely nothing out of Washington surprises me any more.
My point is this- I saw somewhere that 10/barrel works roughly to .25/gal on gasoline. If ethanol is .25/more competitive, that's a pretty serious deal. A huge tax like that would have massive market-disorientating effects. I'm, honestly, surprised that just the mere mention of it as an idea did not have a larger effect on the markets (although, as John's article yesterday pointed out... and it carried through on thursday also, the markets are so chaotic it'd be hard to tell what/if effect it actually had).
I'm curious to get more ideas on what the market impact of that tax would actually be.
I'm going to head into TPP room and commit conservative heresy as for the politics of it. |
$10 a BARREL tax proposed on crude.
