International Paper and Alternative Fuel
It is estimated that the paper industry will receive around $6 billion in funds designated to foster development in alternative fuels. That’s around $20 from every Americans (including children). Congress designed the original bill to encourage the paper industry to use biofuels to fuel their paper plants. The companies realized, however, that they could also use a loophole in the legislation to use a diesel blend to fuel the plants. International Paper has already received $71 million and could receive over a billion dollars thanks to this legislation. In fact, the legislation has benefited the paper companies so much, that it is being seen as an industry saving bail out. With Americans being bled to death with social security, income, state, and property taxes, this is a shameful unintended consequence of interventionism… yet another sad example of failed economic planning.
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