Last week, the Obama Administration said its new calculations showed that grain-based biofuels like corn ethanol and soy-based biodiesel displaced more carbon dioxide than originally thought.
"Given Moscow's plummeting creditworthiness, it would be unconscionable for the Administration to proceed with other than fully collateralized taxpayer credit guarantees for grain or other U.S. exports to the Soviet Union, " said Roger W. Robinson, Jr.
This could probably be accomplished by the Administration, or the Congress, rescinding these taxpayer guarantees prior to the physical shipment of grain to the Soviet Union.