The corn-ethanol industry's $6 billion tax credit flies in the face of a "record of failure" and a recent study by the Congressional Budget Office, which found that using ethanol to cut carbon emissions by 1 metric ton cost $754, The Wall Street Journal argues. Renewable Fuels Association President and CEO Bob Dinneen responds by arguing that the editorial misses the big picture. "[U.S.] ethanol production has few equals in reducing oil dependence and creating domestic economic opportunity," he writes. Read his full response.

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