President Bush is in Brazil today causing a ruckus, creating traffic jams, and hanging out at at a mega fuel depot touting the new biofuels agreement between Brazil and the USA. Brazil is the world's largest single producer of ethanol, making theirs from sugary cane instead of corn. While chumming around with Brazil President Luiz Inacio Lula da Silva, Bush said he wants to promote the trade of ethanol as a world commodity, but has no interest in lifting the 54-cent a gallon tariff on the ethanol already coming to the USA from Brazil. Conspiracy theorists and Senators are already grumbling about the formation of an OPEC-style ethanol and biofuels cartel. – Mike Bumbeck

Bush Hails Biofuels Pact in Brazil [SFgate.com]; Senators Harumph Over US-Brazil Ethanol Deal [Truthabouttrade.com]

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