Over $5 billion in 2006 to subsidize ethanol as hybrid tax credits run out

"A recent study conducted by the Swiss-based group called Global Subsidies Initiative revealed the total cost of the tax breaks and subsidies that go into U.S. production of ethanol to be in the whopping range of $5.1 to $6.8 billion for 2006." (more)

While I'd rather use my tax dollars to subsidize American industries, such as ethanol producers, rather than foreign oil companies, I'd rather subsidize hybrid cars and other clean vehicle technologies more than ethanol. Give GM and Ford $5 billion per year to perfect hybrid cars, plug-in hybrid vehicles, fuel cell hybrid vehicles and electric vehicles.

If lighter materials and smarter automobile designs were coupled with next generation batteries, fuel cells and hybrid technology, the U.S. could easily end foreign oil dependency. Sure it would be expensive, but not too expensive if we simply made better use of current tax subsidies - Not by adding new ones.