The ethanol industry made history when it allowed the Volumetric Ethanol Excise Tax Credit to expire as a way to help lawmakers "balance the needs for deficit reduction and the development of clean-burning, American-made motor fuels," writes Bob Dinneen, president and CEO of the Renewable Fuels Association. The federal government should not subsidize oil and other established industries but implement "timely, targeted, and temporary subsidies" to support new energy sources, Dinneen writes. "Now that the ethanol blenders' tax credit has become history, let's make history by incentivizing America's energy future, not providing perpetual subsidies for fossil fuels," he concludes.

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