It's time to end the subsidies to oil companies

Why does our nation continue to subsidize oil companies? A recent study from the International Energy Agency found fossil-fuel companies reaped $550 billion in subsidies in 2008 alone — enough to cover Ohio’s projected budget shortfall 68 times over.

It’s time to work towards ending subsidies to these companies, which earn billions in profit each quarter.

Ethanol advocacy group Growth Energy has introduced a plan that would end the subsidy oil companies receive for blending ethanol in their gasoline.

It would direct the funds to ethanol infrastructure, with the goal of phasing out government support.

Ohio’s ethanol industry can compete with gasoline, provided there is a level playing field and the consumer has options.  Moving to end oil subsidies is a good step down this path. The end result will be more jobs for Americans, a cleaner environment and greater energy independence.

Mark Borer

Ottawa

Mr. Borer is president of Ohio Ethanol Producers Association.