Scores of companies have received federal loans and grants from President Obama’s 2009 “stimulus” to manufacture an experimental fuel called cellulosic ethanol which has not yet been successfully produced in the U.S. and which may not even work.
The fuel, which is supposed to come from wood chips, was first pushed and funded by the Bush administration.
Despite the fact that no company has yet been able to produce the fuel, Congress previously passed a law imposing mandates on oil companies to mix the non-existent cellulosic fuel into gasoline.
Some companies have even been fined by the Environmental Protection Agency for failing to use the non-existent fuel.
A George-Soros financed company attempted to cash in on the government mandate that all oil companies utilize a certain percentage of cellulosic ethanol, which is said to be environmentally friendly.
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