Posted on 01/02/2013 3:27:54 PM PST by Former Proud Canadian
Wondering why rail traffic has been somewhat surprisingly consistent despite uncertainty? Concerned at government's tenticular reach into each and every aspect of our lives? This somewhat stunning anecdotal report from OilPrice.com might shed some light:
A cargo train filled with biofuels crossed the border between the US and Canada 24 times between the 15th of June and the 28th of June 2010; not once did it unload its cargo, yet it still earned millions of dollars... The companies “made several million dollars importing and exporting the fuel to exploit a loophole in a U.S. green energy program.” Each time the loaded train crossed the border the cargo earned its owner a certain amount of Renewable Identification Numbers (RINs), which were awarded by the US EPA to “promote and track production and importation of renewable fuels such as ethanol and biodiesel.”
We suggest this is merely yet another unintended consequence (just as we noted here) and perverted incentive of central planning and an all encroaching government.
Via James Burgess of OilPrice.com,
(Excerpt) Read more at zerohedge.com ...
I think one can pose the argument that the US government is too big and spends too much money.
LOL
/sarc
I forwarded the original Canadian article to my Congressman, begging him to investigate.
This garbage really burns my butt.
It may not have been... I can see a clever (evilly clever) capitalist taking advantage of an idiotic law. Not useful to society -- other than it exposes, once again, that the Government should keep its nose out of businesses -- but if there is easy and legal money for the taking ... why not? Good intentions, or not, the Government needs to stop trying to 'engineer' business or social solutions. It is not government's job. Just protect the borders, maintain a strong defense (to discourage wars), build the roads, and maintain an equitable, and impartial, legal system... I just made myself laugh...
An Oregon state green energy program was so poorly written it allowed the same thing. Taxpayer dollars were paid out to companies who have used the law qualify for multiple subsidies.
It may be strictly legal, but it sure doesn’t meet the intention of the law.
You can be sure that any company in this business has close ties to the RAT party and will receive protection from prosecution.
My current view is that the RAT party and their business cronies are a criminal organization.
The "evil capitalist" is being paid from MY earnings, that are confiscated.....
If I’m not mistaken, the person that controls the railroad the crosses the US-Canadian border is one of obama’s puppet masters, Warren Buffett. He controls BNSF, which stands to make $$$$$$ since the Keystone pipeline isn’t getting built, as his rail cars will carry the oil down from Canada.
Imagine that..
Yep...
Sounds just like a government program.
I believe it specifically meets the intent of the law, which was written to benefit these cronies of the legislator(s). Theft under the color of law.
Ping ... Damn.
and America takes another one in the........
Canada Ping!
Heh. You've not lost the Canadian flair for understatement.
stop the subsidies — all subsidies...now!
I just don't like where its all going to end. Things are going to change, big time.
I’ve long proposed that each politician who can vote on a law have a convicted white collar criminal - preferably a con man - on his staff. The guy’s sole job would be: “Hey Eddie, look at this law and tell me how you’d get around it.” Then close that loophole.
But, I’m also of the opinion that many of these laws are intentionally written with just such loopholes to help out some contributor or family member.
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