Petroleum committee urges for corn lay-off on gasoline production

09:06, August 11, 2010      

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The Petroleum Circulation Committee under the China General Chamber of Commerce (CGCC), has submitted a written statement to the National Development and Reform Commission (NDRC) calling for it to demand some ethanol gasoline producers to lay off the use of corns for producing the combustible, said Zhao Youshan Monday, president of the oil committee.

Some Chinesegasoline producers, in order to snatch up a 1,880 yuan ($277.6)-per ton subsidy from the government, have opted for using the corn in the production of ethanol gasoline, which rapidly leads to a hike in corn prices.

The Committee is advocating for dividing and spreading subsidies onto other fields so as to mitigate issues referring to people's livelihood, since ethanol gasoline produced from corn can hardly meet the domestic requirement for motor vehicles.

The Petroleum Circulation Committee is a national organization for petroleum enterprises of private, state-owned or foreign ownership.

Source: Global Times


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