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carlist.com - Longest running FREE used car database in the world.

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In a speech at the Renewables Fuel Association, Washington DC, April 25, 2006, President George W Bush made some statements about ethanol, hybrids and hydrogen that were promising and confusing. Let’s look at some of the statements Bush made.

"Our dependence on foreign oil is like a foreign tax on the American Dream -- and that tax is growing every year."

Bush is right. According to U.S. Department of Commerce data, as cited by Bloomberg, the January 2006 trade deficit was $68.5 billion, of which $24.6 billion (or 36%) was due to imported oil. Annualized, the U.S. now spends about $800 million per day on imported oil. A way to take some of this dream back is to keep some of that money in the United States. If the United States adds 10 percent ethanol to all of its gasoline we would still be paying the same amount for gasoline at the pump. MTBE (methyl tertiary-butyl ether) is a chemical compound that is manufactured by the chemical reaction of methanol and isobutylene. It is produced by the oil company. Ethanol is produced by farmers. The difference would be that $80 million per day would stay in the United States. That is $80 million per day that isn’t going to a foreign country or to a bulging oil company. Ethanol gives the United States a hedge on their National Energy Security and a better negotiating position with foreign countries and with oil companies. Ethanol does have problems such as clinging to water. Ethanol is not the best solution. Ethanol does put us on the path to energy independence.