Ethanol Group Spent $162,000 Lobbying In First Quarter

Jun 24, 2008 (financialwire.net via COMTEX) -- VSE | Quote | Chart | News | PowerRating -- June 24, 2008 (FinancialWire) An ethanol trade group which represents biofuel makers including VeraSun (NYSE: VSE | Quote | Chart | News | PowerRating) (Current Market Cap: US$681.84 Mil.) and Pacific Ethanol (NASDAQ: PEIX | Quote | Chart | News | PowerRating) spent $162,000 to lobby the federal government on incentives for the industry.

The Renewable Fuels Association lobbied Congress on renewable fuels legislation and waivers of fuel requirements during the first quarter of 2008, according to an April 21 filing. The ethanol industry has come under fire as food prices have risen worldwide, but manufacturers contend that biofuel is helping to ease the nation's reliance on foreign oil, and that ethanol makes only a tiny contribution to rising food prices.

Besides Congress, the Renewable Fuels Association lobbied the Environmental Protection Agency and the departments of Agriculture and Energy.

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