Dianne Feinstein: “I hate to disagree with him, but in this case I find the ethanol mandate in this bill to be egregious, to be…”

“I hate to disagree with him, but in this case I find the ethanol mandate in this bill to be egregious, to be wrongheaded, to be just terrible public policy. My first concern is this: Only 2.1 billion gallons of ethanol were produced in 2002. The ethanol mandate before us requires 5 billion gallons by 2012. This fuel additive is not necessary to make clean-burning gasoline. Yet it is mandated into our fuel supply. Under the credit trading provisions of the ethanol mandate, States are going to be forced to pay for ethanol whether they use it or not. Let me repeat that. Under the credit trading provisions in this bill, States are going to be forced to pay for it, whether they use it or not. Secondly, this is going to drive up the price of gasoline. It can only do so. The Council of Economic Advisers and the Federal Trade Commission have advised President Bush that the ethanol mandate is: Costly to both consumers and the Government and will provide little environmental benefit. So this provision will force up prices. California's costs are already high. I just paid $50 for a tank of gasoline when I was home in California.”