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Texas Gov Calls Ethanol Mandate a 'Scam'

Tuesday, 19 Aug 2008 | 12:18 PM ET
Gov. Rick Perry Speaks
Talking with Gov. Rick Perry and Mad Money host Jim Cramer.

Cramer's not alone in his crusade against Washington's ethanol mandate. Recently, Rick Perry, Texas' Republican governor, asked the Environmental Protection Agency to reduce the federal requuirements on that biofuel. Of course, the EPA said no, virtually ignoring the huge food inflation that's occurred as a result of putting 30% of the U.S. corn crop into the production of only 3% of the fuel we use.

Texas consumers, like everyone else, have been feeling the pain. So Governor Perry has stepped up and is making his state a more alternative-energy-friendly place by building wind-power farms and solar-power installations and, just as important, the infrastructure needed to bring that power to market.

Watch this video to find out what else Perry has going on and why he said the ethanol mandate was "the biggest scam that's ever come along."

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