"The ethanol industry has incorporated the fact there are subsidies into their operational, financial models. I think that is a mistake," Schafer reportedly said. "They are going to have to see a gradual ... step-down reduction in subsidies."
Schafer was speaking on the sidelines of a business journalism conference. His comments were carried by various news agencies including Reuters.
Secretary Schafer said U.S. Department of Agriculture (USDA), in conjunction with the Environmental Protection Agency (EPA), the Energy Department and other agencies, plans to roll out a "biofuels action plan" within the next few weeks.
About a third of this year's
For more information, go to www.foodbeforefuel.org.
Source: American Meat Institute
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