It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

'Splash and Dash' Biofuel Scam Costs Americans Millions, Lawmakers Say

page: 1
1

log in

join
share:

posted on Jul, 12 2008 @ 04:22 PM
link   
This is a loophole that is being exploited costing us hundreds of millions a year:


CHICAGO — A lawmaker says U.S. taxpayers are being bilked to the tune of millions of dollars by a biofuel subsidy that helps to lower gas prices in Europe, and he's leading the charge to close the apparent loophole.

“In 2007 this subsidy cost the American taxpayer $300 million, and it’s projected to cost the American taxpayers $600 million next year,” said Rep. John Shadegg, R-Ariz.

The scam — as Shadegg and others call it — is known as “splash and dash.” It stems from an existing $1 subsidy for every gallon of biodiesel fuel blended with regular diesel in the United States.

Here’s how it works:


www.foxnews.com...

Read the rest of the article for details on how it works.




posted on Jul, 12 2008 @ 10:34 PM
link   
Pathetic. No doubt someone in government is profiting from this.
There is nothing more dangerous than 'good intentions'.



new topics
 
1

log in

join