Death comes to us all. Life's but a walking shadow | Ask him if he would eliminate the Special % Depletion Allowance (worth about $280 billion per year to the oil industry only, roughly). And ask him if he'll support elimination of the "Research" deduction where 100% of all geology, drilling & facilities costs are immediately deductable worth something like $100 billion dollars per year.
Keep in mind that the total cost of ethanol at 13.6(?) billion gallons x $1.28 (current price) is only $17.4 billion. Keep in mind as well that if Rins represent the actual dollar value of the Mandate then the average value of ethanol Rins since the program started has been about 10% of the cost of ethanol or at today's ethanol prices 12.8 cents per gallon or 13.6 billion x .128 or $1.7 billion per year.
This means that our mesely $1.7 billion isn't even a rounding number for the oil industry's subsidy (1.7/380 =0.004 or 0.4%).
And I didn't even count some of the less lucrative subsidies the oil industry gets.
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Ted Cruz and ethanol
