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

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:

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

Pathetic. No doubt someone in government is profiting from this.
There is nothing more dangerous than 'good intentions'.