Austin Scott: “I serve on both Agriculture and Financial Services, so I can look at this with a very jaundiced eye. And I think what we…”

“I serve on both Agriculture and Financial Services, so I can look at this with a very jaundiced eye. And I think what we have to do is make a decision in this move based upon what the lay of the land is. First, we're talking about renewable energy and ethanol. Where is that going to take place? It's going to take place in the rural communities where the products, where the crops are that will make renewable energy. This proposal is tied very tight, and I think that farm credit deserves to have an opportunity to compete in this new burgeoning industry. The businesses that are made eligible are ones that process or handle farm products that are directly used in renewable energy. This is very tight. I do not believe that the farm credit needs to be denied this opportunity. I do not think it blurs jurisdictional lines. We should not close the door on an industry, an opportunity for farm credit to provide a service that is not directly competitive with our bankers.”