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  Ethanol tax credit expires in 8 days.

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Author Topic:   Ethanol tax credit expires in 8 days.
JMARTIN posted 12-23-2011 02:52 PM ET (US)   Profile for JMARTIN   Send Email to JMARTIN  
The payroll tax deal closed the door on any more action this year. Petroleum marketers are implementing plans to adjust to the loss of ethanol, biodiesel and other alternative fuels tax credits which will expire on Saturday, December 31 2011.

For those of you in ethanol mandate states, big whoop. For those of you in other states, who knows what is going to happen.

John

L H G posted 12-23-2011 03:23 PM ET (US)     Profile for L H G    
People in greater Chicago are scrathing their heads as to why the price of regular on Tuesday evening was $3.19, and on Wed morning it was $3.39., up 20 cents overnight.

Could this be the reason? Our just Holiday price gouging as we have all come to expect.

JMARTIN posted 12-23-2011 04:16 PM ET (US)     Profile for JMARTIN  Send Email to JMARTIN     
I can only speak for my suppliers in the PNW, but Diesel cost has risen 15 cents and unbranded gasoline has risen 17 cents in the last couple of days.

The big day, up 10 cents, was the day after the stock market did a 300 point gain.

John

contender posted 12-23-2011 08:20 PM ET (US)     Profile for contender  Send Email to contender     
LHG: Someone is going have to pay for Blagoevich....
Marsh posted 12-23-2011 10:34 PM ET (US)     Profile for Marsh  Send Email to Marsh     
Regular 87 octane was priced at several locations locally yesterday at $2.99 per gallon: the lowest price in quite some time. I didn't leave the lot today, so I don't know what moves the price made.
jimh posted 12-31-2011 11:05 AM ET (US)     Profile for jimh  Send Email to jimh     
There seems to be a mix of predictions about how the retail price of gasoline will be affected on January 1, 2012 when the Volumetric Ethanol Excise Tax Credit (VEETC) will expire.

Curiously, I found this article from an Indiana journal to be rather comprehensive. It's better than the rehashed wire-service reports that dozens of television station websites have regurgitated into two paragraphs of generalities, which lead the search results on this topic:

http://www.indianaeconomicdigest.net/main.asp?SectionID=31& ArticleID=63265

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