Ethanol; 'Father of Ethanol', Mario Garnero Cheers US Decision to Lift Tariffs on Brazilian Sugarcane Biofuels

Mario Garnero, chairman of Brazil’s pioneer merchant bank, Brasilinvest, hailed the decision of U.S. lawmakers not to renew import tariffs which for more than 30 years protected corn ethanol from Brazilian competition. Garnero said that the decision is a “milestone of historical proportions to the good of the two largest economies in the Hemisphere. It clears the way to a higher level of trade between the U.S. and Brazil and is a firm step towards commoditizing ethanol — a mighty push for greener energy in all quarters.” Four out of five cars in Brazil are flex-fuel vehicles which can run on ethanol, gasoline or a combination of the two. (January 27, 2012)