Based primarily on information obtained from the Illinois Corn Growers Assn. (ICGA), the genuine cost paid by motorists for corn-based, ethyl alcohol-blended gasoline should be close to $2.90 per gallon, if all subsidies, taxes, delivery, retail markup and energy content are calculated. The ICGA says the wholesale price of ethanol delivered to the Chicago area currently is $1.30 per gallon. As the first step, this translates into $2.13 on a gasoline energy equivalent basis. If one then ...
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