Nathaniel Hawthorne Literature of Consience Essay

Nathaniel Hawthorne’s works established him as one of the most unique authors of the 19th century. With works such as The Scarlet Letter, Hawthorne not only entertained his audience, he made them look at their own life and compare it to 17th century Puritan New England. He also brought readers to the realization of how harsh and difficult the period of American History was. Hawthorne’s unique style of writing and his ability to probe deep into the human conscience made him one of Early America’s most greatly admired authors. nbsp;nbsp;nbsp;nbsp;nbsp;The Hawthornes had already left their legacy with the town of Salem leaving Nathaniel Hawthorne a long rich history of ancestry in the town. In 1630, William Hawthorne made the Journey†¦show more content†¦nbsp;nbsp;nbsp;nbsp;nbsp;At the age of nine, one of the most significant events in Hawthorne’s life occurred. The typical New England boy, Hawthorne was very physically active and athletic. One fateful day, while Hawthorne was playing ball, he injured his foot. Not only was his foot damaged, but it grew together improperly and created a problem which would ail him for the rest of his life. nbsp;nbsp;nbsp;nbsp;nbsp;After his accident, Hawthorne was confined to his bed because he had lost mobility. During this time, Hawthorne read many books that would became his favorites, and also have an impact on his writing. These books included Pilgrim’s Progress, by Bunyan, and Faerie Queen, by Spenser. He also enjoyed reading Shakespeare. When the condition of his leg improved, he put on small plays for his sister, who also admired Shakespeare. nbsp;nbsp;nbsp;nbsp;nbsp;At this point in his life, Hawthorne became mildly reclusive because he had been accustomed to sitting inside reading all day due to the fact that he could not walk properly. He mostly confined himself to his room where he began writing. Hawthorne â€Å"founded† a hand-printed magazine, The Spectator, which include some of Hawthorne’s early literature. He filled his magazine with some of his personal humor. His most amiable times were spent in his â€Å"Printing Office† working on his magazine. This appears to be the first time Hawthorne became seriously

Racial Discrimination In Toni Morrisons The Bluest Eye

Muhammad Ali once said, â€Å"Hating people because of their color is wrong. And it doesn’t matter which color does the hating. It’s just plain wrong.† Toni Morrison’s The Bluest Eye is set in 1941, close to the end of the Great Depression. During the 1940s, disputes and riots over race were frequent (â€Å"Race Riots†). Moreover, there was segregation in housing, employment, and education throughout the United States. There was a small chance for improvement in racial relationships until World War II began. World War II revealed the racial segregation and discrimination of the nation. World War II initiated many social processes that slowly led to vital changes during the late 1940s (â€Å"Racial Discrimination†). In Toni Morrison’s The Bluest Eye, the†¦show more content†¦As a result, she fails to care for her own children and is harsh with them. Samuel has thoughts about running away and Pecola has a fear of growing up. Als o when Pecola accidentally drops the berry cobbler on the floor, Pauline does not comfort Pecola, but instead comforts the daughter of the white family. Pauline consoles, â€Å"Hush, baby, hush. Come here. Oh, Lord, look at your dress. Don’t cry no more. Polly will change it† (Morrison 109). While Pecola is in pain from the cobbler burning her legs, Pauline slaps Pecola and consoles the little girl. This shows that she prefers the white child over her own child. In brief, Pauline has no interest in her family and instead favors the white family that she works for. Louis Junior has a cruel behavior because of his mother’s racism towards blacks. Geraldine, his mother, forces Junior to only play with colored people, not black people. He has to wear clothing worn by white people, wear lotion to prevent his skin from becoming ashen, and cut his hair short. His mother makes him do this to separate him from the other black people. In the beginning, Junior wanted to pla y king of the hill with black people. However, now that changes because of his mother’s racism. The narrator states, â€Å"Gradually he came to agree with his mother that neither Bay Boy nor P.L. was good enough for him† (Morrison 87). Now, he feels superior to other black children. Ultimately, that leads to loneliness. InShow MoreRelatedRacism And Discrimination On African Americans1210 Words   |  5 Pagesand discrimination on African Americans through her frequent use of symbolism.2 In The Bluest Eye, an extremely important symbol is blue eyes (Crayton 73). Blue eyes are used to symbolize racially based beauty standards and the power associated with whiteness (â€Å"Bluest† LitCharts). In the novel, society believes that if a person does not have white skin, he or she is not beautiful. Pecola Breedlove falls victim to this widespread belief and longs to possess blue eyes. In her world, blue eyes are farRead Morestudy on toni morrison Essay2402 Words   |  10 Pagesï » ¿A Study On Toni Morrison’s The Bluest Eye Ying-Hua,Liao Introduction Toni Morrison was the winner of the 1993 Nobel Prize for Literature. She is a prominent contemporary American writer devoted to the black literary and cultural movement. Her achievements and dedication to the promotion of black culture have established her distinguished status in American literature. Many critics applaud Toni Morrison’s artistic talent and contribution to American literature. Darwin T. Turner, for exampleRead MoreWoman Is The Nigger Of The Wolrd: The Bluest Eye by Toni Morrison934 Words   |  4 PagesIgnored as a person. Denied as a species. ‘The total absence of human recognition† (Morrison, 36). For decades, African-Americans have not only been looked down upon by white people, they have been dehumanized. Toni Morrison is controversial for pillorying this topic, that has been silenced by white society for years, not from the ‘Master Narrative’ perspective, that is the white male one’s, but from the exact opposite of this: an African-American girl. By doing this, she does not only awake pityRead MoreEssay about Use of the Fences Metaphor in Describing Racial Injustice1674 Words   |  7 PagesDescribing Racial Injustice in Toni Morrisons The Bluest Eye, Narrative of the Life of Frederick Douglass, the Song Swing Low, S weet Chariot, and August Wilsons Fences In todays world it is difficult for young people to get a good handle on the past. This is especially the case when talking about the history of African-Americans in the United States and the consequences of racial injustice which they faced. Toni Morrison shares her thoughts on this topic in her novel The Bluest Eye throughRead MoreThe Bluest Eye By Toni Morrison Essay1314 Words   |  6 PagesThe Bluest Eye, by Toni Morrison, encompasses the themes of youth, gender, and race. The African American Civil Rights Movement had recently ended at the time the novel was written. In the book, Morrison utilizes a first-person story to convey her views on racial inequality. The protagonist and her friends find themselves in moments where they are filled with embarrassment and have a wish to flee such events. Since they are female African Americans, they are humiliated in society. One of Morrison’sRead MoreThe Bluest Eye By Toni Morrison1524 Words   |  7 PagesIn the novel The Blues t Eye, authored by Toni Morrison, Morrison brings up many social conflicts that occur throughout the novel. One of the biggest conflicts she brings up within the novel is racism. There are many offsets of racism that occur to many of the characters within the novel. One of the most significant issues or conflicts that branch off from racism is how racism affects and limits the opportunities that minorities have. In Morrison’s novel this type of racism that affects opportunityRead MoreLiterary Analysis Of Recitatif1135 Words   |  5 PagesLiterary Analysis Paper: â€Å"Recitatif† by Toni Morrison Many authors write fictional novels about historical events. A common topic written about is the racial integration between African Americans and whites during the 1950’s. Although the short story â€Å"Recitatif† explicate many different themes, the central topic of Morrison’s writing is about racism. Throughout the story, the author expresses examples of hatred between black and white races at the shelter, the different encounters they have, andRead More Childhood Presented in To Kill a Mocking Bird by Harper Lee and The Bluest Eye by Toni Morrison3594 Words   |  15 PagesChildhood Presented in To Kill a Mocking Bird by Harper Lee and The Bluest Eye by Toni Morrison Childhood should be a time of great learning, curiosity, joy, playfulness and guiltlessness. The reality is that it can be a time of extreme vulnerability and dependency. The innocence and fragility of a child is easily manipulated and abused if not nurtured and developed. Family relationships are crucial in the flourishing of young minds, but other childhood associations are important too. TheseRead MoreThe Bluest Eye And Marxism : Race Creates Vulnerability1554 Words   |  7 PagesThe Bluest Eye and Marxism: Race Creates Vulnerability Famous African American social reformer Frederick Douglass once said, â€Å"Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob, and degrade them, neither persons nor property will be safe.† In other words, Douglass believed that a society that takes advantage of and devalues people of a certain class, including—considering DouglassRead MoreThe Double-Fold Oppression Of Intersectionality. The American1642 Words   |  7 PagesAlice Walker and Toni Morrison. Despite the severe racism and poverty Alice Walker faces as the daughter of sharecroppers in Georgia, the memory of her being forced to move to the back of a segregated bus inspires her to write The Color Purple. By tracing the life of a young black woman named Celie, Walker encapsulates the despairing situation of black women in the 1940s, who struggle to escape from the command of white folk a nd black men. Similarly, Toni Morrison wrote The Bluest Eye based off of an

Financial analysis of BHP Bulliton

Question: Discuss aboout the Financial analysis of BHP Bulliton. Answer: Introduction about the BHP Billiton and Rio Tinto BHP Billiton is one among the leading mining firms that are being operational in Australia. The company was formed in the year 2001 as result of the merger that took place between Australian Broken Hill Proprietary Company Limited (BHP) and the AngloDutch Billiton plc. The headquarters of the company has been set up at Melbourne. The market capitalization of the company has been crossed the limit of $180 billion. The stock of the company has been listed in the Australian as well as in the London stock exchange. The major products that has been mined by BHP Billiton comprises of coal, manganese, nickel and silver. The employee strength of the company has crossed 29000 with total asset strength of USD $ 129 billion. BHP Billiton is a profit making company; however, in the current year the company has incurred losses amounting to $64 billion. The management of the company has given first priority to the health and safety of the employees. They have very well defined the code of ethics t hat need to be followed in by all the employees of the company. On the other hand, in order to create value for the company, the board of directors believes that the company should have a fair, transparent and qualitative governance system. On the other hand, Rio Tinto has been one among the worlds largest mining company. This company although is operational in 60 countries but its major focus is in Australia and Canada. The company was started in the year 1873 which has been formed by a list of investors. The company is majorly engaged in metallic excavating and energy sector. The major products of the company include coal, diamond, aluminum, copper, iron ore and Uranium. The company at the same time been involved in concentrating iron ore and bauxite. The stock of the company has been listed in the Australian as well as in the London stock exchange. The yearly revenue of the company has crossed the mark of $47.5 billion with an annual income of $6.48 billion. The employee strength of the company has crossed 55000 with total asset strength of USD $ 92 billion. As result of changes that have been witnessed all around the globe in relation to the mining industry, the management of the company has decided to focus on the current productivity and reduction of the current cost levels. They believe that they have adopted this strategy well in advance and soon they will be bearing fruits in the coming future. The company has made projections till the year 2030 keeping in mind the growing economies like India and China and based on the same they have made their operations in line. Financial Ratios of BHP Billiton and Rio Tinto BHP Billiton Particular 2014 2015 2016 Revenue USD Mil 56,762 44,636 30,912 Gross Margin % 77.5 77.2 72 Operating Margin % 39.9 19.4 -20.2 Earnings Per Share USD 5.18 0.71 -2.4 Dividends USD 2.36 2.48 1.56 Payout Ratio % * 42.5 45.5 189.9 Profitability 2014 2015 2016 Net Margin % 20.58 4.28 -20.66 Asset Turnover (Average) 0.46 0.32 0.25 Return on Assets % 9.56 1.38 -5.24 Financial Leverage (Average) 1.91 1.92 2.19 Return on Equity % 18.47 2.65 -10.73 Return on Invested Capital % 12.93 2.04 -6.19 Interest Coverage 37.04 20.27 -7.56 Liquidity/Financial Health 2014 2015 2016 Current Ratio 1.23 1.27 1.44 Quick Ratio 0.88 0.92 1.15 Financial Leverage 1.91 1.92 2.19 Debt/Equity 0.38 0.43 0.59 Key Ratios - Efficiency Ratios Efficiency 2014 2015 2016 Days Sales Outstanding 24.92 31.08 36.23 Days Inventory 92.36 126.23 162.5 Payables Period 113.77 175.92 269.56 Cash Conversion Cycle 3.52 -18.61 -70.83 Receivables Turnover 14.64 11.74 10.07 Inventory Turnover 3.95 2.89 2.25 Fixed Assets Turnover 0.63 0.44 0.35 Asset Turnover 0.46 0.32 0.25 Rio Tinto Particular 2013 2014 2015 Revenue USD Mil 51,171 47,664 34,829 Gross Margin % 29.4 28.9 19.8 Operating Margin % 14.5 23.8 10.4 Net Income USD Mil 3,665 6,527 -866 Earnings Per Share USD 1.97 3.51 -0.47 Dividends USD 1.76 2.03 2.2 Payout Ratio % * 56.7 132.6 Profitability 2013 2014 2015 Net Margin % 7.16 13.69 -2.49 Asset Turnover (Average) 0.45 0.44 0.35 Return on Assets % 3.21 5.96 -0.87 Financial Leverage (Average) 2.42 2.33 2.45 Return on Equity % 7.9 14.16 -2.07 Return on Invested Capital % 6.48 11.3 -0.47 Interest Coverage 7.91 15.72 0.03 Liquidity/Financial Health 2013 2014 2015 Current Ratio 1.47 1.73 1.55 Quick Ratio 1 1.33 1.17 Financial Leverage 2.42 2.33 2.45 Debt/Equity 0.03 0.49 0.56 Key Ratios - Efficiency Ratios Efficiency 2013 2014 2015 Days Sales Outstanding 22.05 20.94 20.16 Days Inventory 60.02 53.11 49.14 Payables Period 62.37 29.95 33.72 Cash Conversion Cycle 19.69 44.11 35.58 Receivables Turnover 16.55 17.43 18.1 Inventory Turnover 6.08 6.87 7.43 Fixed Assets Turnover 0.7 0.68 0.54 Asset Turnover 0.45 0.44 0.35 (Source: Morning star) GP ratio Gross and net margin ratio The gross margin ratio of the company reflects the profit that has been earned by the company without considering the non operating expenses of the company. In the GP ratio of the BHP Billiton Company has been increasing over the period of last 7 years. There has been consistent in the ratio. On the other hand, the trend for the gross profit ratio for the Rio Tinto limited is on a downfall which is consistently decreeing. The net profit ratio gives the profitability of a company and is most sought after ratio by investors who are looking for dividend and returns. There has been some positive trend in the net profit of the company in the previous two years (i.e. 2013 and 2014) but when the same has been compared with the net profit that both the companies has earned in the last two years reflects a negative picture. There has been consistent decrease in the same making it difficult for the management to manage. The NP ratio of Rio has turned negative in the year 2015. Current and Quick Ratio The current ratio is used to test the market liquidity and firm's ability to meet out the demands raised by creditors. In the case of BHP Billiton company the current ratio stands at around 127% in the year 2015. On the other hand the quick ratio keeps a track on the liquidity of the company. This ratio checks the ability of the company to meet out its short term obligations through the help of its liquid assets. The Quick ratio of the BHP Company in the year 2015 stands close to 88%. These both the ratios are consistent for the BHP Company. However, there was some downfall in the middle of the years but the same has now recovered. On the other hand, in case of Rio Tinto, the liquidity ratio of the company is relatively on a higher side as compared to the BHP limited. Financial Reporting Framework For the purpose of meeting out the financial need of the company, BHP Billiton is relying on both equity and long term debt as the sources. The Long term debt of the company has been increasing consistently over the period of last 5 years. At the same time the company has short term debt which has been paid consistently by the company. In case of BHP, the management of the company relies more on the long term debt for meeting out the finance needs of the company where 90% of the finance needs are catered by the long term debt sources. On the other hand, in case of Rio Tinto, the story is other way round. In this case as well, the company relies on both equity and long term debt as the sources. The management of Rio Tinto Company relies more on the equity sources (common stock) meeting out the finance needs of the company where 90% of the finance needs are catered by the equity sources. USD in millions (BHP Bullition) 2012 2013 2014 2015 2016 Short-term debt $ 3,327 $ 4,872 $ 4,088 $ 2,443 $ 3,373 Long-term debt $ 24,629 $ 29,739 $ 29,036 $ 27,625 $ 31,462 Common stock $ 2,255 $ 2,255 $ 2,255 $ 2,243 $ 2,243 USD in millions (Rio Tinto) 2012 2013 2014 2015 2016 Short-term debt $ 1,447 $ 2,228 $ 3,909 $ 2,684 $ 2,436 Long-term debt $ 20,357 $ 24,591 $ 1,232 $ 22,535 $ 20,812 Common stock $ 5,816 $ 46,865 $ 45,886 $ 46,285 $ 37,349 In terms of the market conditions, the Australian Mining industry has been facing huge ups and downs. This movement is majorly on account of the transition that has been taken place in China. This transition has been responsible for the huge volatility in the mining industry all across the globe. In this scenario, the mining company with long term vision and sustainability and with lucrative projects in hand will be able to manage in this industry and will be able earn profits. By the year 2015, China along holds the consumption of 61% of the iron ore demand in the world. This shows the dependence on the country and any economic or political change is going to impact the mining companies in the entire world. From the side of reporting frame work, BHP Billiton is required to prepare the financial statements in line with the AASB (Australian Accounting standard board) which is in compliance with the IFRS. On the other hand, the financial statement of Rio Tinto is prepared in line with the US GAAP. Analysis and comparison of financial sources The financial sources of both the companies are more or less similar. However, the usage and the percentage of the finance sources are different. For purpose of meeting out the financial need of the company, BHP Billiton and Rio Tinto both are relying on both equity and long term debt as the sources. In case of BHP, the management of the company relies more on the long term debt for meeting out the finance needs of the company where 90% of the finance needs are catered by the long term debt sources. On the other hand, in case of Rio Tinto, the story is other way round. In this case as well, the company relies on both equity and long term debt as the sources. The management of Rio Tinto Company relies more on the equity sources (common stock) meeting out the finance needs of the company where 90% of the finance needs are catered by the equity sources. In case of BHP Billiton, its been not more than 15 years. The company has more dependence on the debt sources of finance. However, the debt cost of the company is relative on a higher side. On the other hand, in case of Rio Tinto, the company has reduced the debt on a higher side by meeting the financial need by issue of common stock. However, the debt equity ratio of the company is more or less same. There has been a sudden decrease in the debt equity ratio for Rio in the year 2014 but again the same was brought in line with BHP. Liquidity/Financial Health 2011 2012 2013 2014 2015 2016 Debt/Equity (BHP) 0.22 0.38 0.42 0.38 0.43 0.59 Debt/Equity (RIO) 0.24 0.39 0.52 0.03 0.49 0.56 For the purpose of the financial reporting framework, the financial statement of BHP and Rio both are prepared in line with the International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board. There has been no major change in the reporting framework of the companies as both are in line with the IFRS. Conclusion In the above case, the financial health of both the companies has been analyzed. The financial ratios of both the companies have been analyzed and watched closely. Our analysis has been done on the internal factors of the company external macroeconomic factors are not taken into account, these factors also might have significant affect financial performance of both companies. However looking at the overall financial position and performance of both the companies and when asked to make a choice then in that case, the financial position of BHP Billiton tends to be strong enough as compared to Rio TINTO in all prospects. References BHP Billiton Ltd, Annual Report 2015_ https://www.bhpbilliton.com/~/media/bhp/documents/investors/annual-reports/2015/bhpbillitonsustainabilityreport2015_interactive.pdf, Viewed on 29th Jan 2017 Rio Tinto.com, Basic Background of the Rio Tinto, Viewed on 29th Jan 2017, https://www.riotinto.com/aboutus/strategy-5006.aspx Austrliamining.com, 2016, The top ten trends for mining in 2016, viewed on 29th Jan 2017, https://www.australianmining.com.au/features/top-ten-trends-mining-2016/ IP Australia, Industry analysis of Mining, viewed on 29th Jan 2017, https://www.ipaustralia.gov.au/pdfs/The_Australian_Mining_Industry_Report.pdf Morning star, Financial analysis of BHP Bulliton, viewed on 29th Jan 2017, https://financials.morningstar.com/ratios/r.html?t=BHP Morning star, Financial analysis of BHP Rio Tinto, viewed on 29th Jan 2017, https://financials.morningstar.com/ratios/r.html?t=RIO

Perfect Your Personal Selling Activities â€Myassignmenthelp.Com

Question: Discuss About The Perfect Your Personal Selling Activities? Answer: Introducation Personal selling is becoming increasingly important in the 21st century. This is because there have been dramatic and irrevocable changes in some consumer aspects (Terry, Vanja, Hairong, John, 2017). Have you ever deeply thought about the need to polish your personal pitching skills to match such consumer aspect changes? Well, you do not need to worry yourself so much. Here are some practical steps for you. Identify your audience Customers are your key audience. How important is identifying your customers? Normally, there are different types of customers depending on what you are selling. As such, it is important to know and understand them in terms of their tastes and preferences. This will help you in tailoring your products accordingly. Ask questions When trying to pitch your product or service, ask your customer why he or she is interesAnswer:k why while trying to make them switch to yours (Sumil Nobuyuki, 2013). Ask for the sale Why is this important? This is what your marketing is all about, getting the customer to buy your product or service. You can do this either directly or indirectly. You do this to both the clients and prospective ones following your presentation. This is important as they will be fully satisfied. This is concerning your products or services. As such, their concerns will be satisfactorily addressed. References Sumil, E., Nobuyuki, F. (2013). The Role of Affect in Personal Selling and Sales Management. Journal of Personal Selling Sales Management, 7-24. Terry, D., Vanja, D., Hairong, L., John, L. (2017). Establishing a Paradigm: A Systematic Analysis of Interactive Advertising Research. Journal of Interactive Advertising, 65-78.

Technology, Transportation and Society free essay sample

A discussion of transportation in the past and present and how it affects and is effected by technology and society. This paper begins with a brief history of the development of transportation, including land, air and sea travel. The link between transport and society are examined in terms of the effects on the economy, on business and on culture. Alternate forms of transport and new developments are outlined. Technology, transportation and society are three areas that are interlinked. Technology determines what transportation will exist. The transportation that exists determines how we will live and the nature of our society also determines what transportation is created. Transportation systems have developed considerably in the last century, giving us the society we currently have. The major development in the last few decades is in technology, with this likely to have a significant impact on future transportation systems. The current transportation systems have also resulted in several problems, mostly related to environmental and quality of life issues. We will write a custom essay sample on Technology, Transportation and Society or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page An understanding of these problems is likely to result in better planning and application of future transportation systems.

Interview Essay Questions That Will Determine If You Get the Job

Interview Essay Questions That Will Determine If You Get the JobWhy is it important to do a good job of preparing for an interview? Well, it helps to show employers that you're truly committed to your chosen career and they won't be left with the feeling that you were just looking for a job because it was there. You will have a better chance of getting hired if you have prepared yourself well for the interview.There are many different interview question types, but the most common ones are usually used when hiring managers look at the applicants' academic records and resume. There are lots of sample interview question formats online that you can use, but it's important to not take it too seriously. Employers are very busy and they can tell when people are making a serious effort to prove themselves and show them that they want the job.So, the first thing to do when you are asked to do a sample essay question is to find out what the company you are being interviewed with has in mind. M ost likely they will ask you a variety of questions, all of which will be based on a particular job field. This will help you to choose which questions you should prepare for and how you should answer.Before you start the process of writing, make sure you have a good idea of the kind of job you are applying for. This is crucial because it will help you to choose the types of essay questions that will be asked. For example, some of the samples will ask about your job history, interests, work experience, leadership skills, and much more.Once you know what type of questions you will be asked, the next step is to write an essay on your personal experiences that apply to the position you are applying for. It's best to write a few short paragraphs on each question, but to ensure that the writer has covered all the bases. The following question is the one that will determine whether you get the job or not. Your job is to answer an interview question and show the interviewer that you are ge nuinely interested in the position. Here are the kinds of questions that you will be asked. You must provide a specific answer to each question and your main focus should be on giving the employer a reason to hire you over another candidate.One common interview question is, 'Please tell me about yourself in a few sentences'. Answer this question as to why this company should hire you and what makes you qualified for the position. A common 'explanation' is to describe what your professional background is like and explain why you are qualified for the job.How well you communicate with others and your ability to deal with conflict and encourage good communication skills are also questions that will be asked by the interviewer. However, your ability to keep your emotions under control while being open and honest to the interviewer is very important. For example, you can say that you are not going to back down if the interview turns into a heated argument.

The Ethanol Subsidy and How Biofuel Tax Incentives Work

The Ethanol Subsidy and How Biofuel Tax Incentives Work The primary ethanol subsidy offered by the federal government is a tax incentive called the Volumetric Ethanol Excise Tax Credit, which was passed by Congress and signed into law by President George W. Bush in 2004. It took effect in 2005. The ethanol subsidy, which is commonly referred to as the blenders credit, offers ethanol blenders registered with the Internal Revenue Service a tax credit of 45 cents for every gallon of pure ethanol they blend with gasoline. That particular ethanol subsidy cost taxpayers $5.7 billion in foregone revenues in 2011, according to the U.S. Government Accountability Office, the nonpartisan congressional watchdog agency. Debate Over the Ethanol Subsidy Supporters of the federal ethanol subsidy argue that it encourages production and use of the biofuel and thereby reduces the amount of foreign oil needed to produce gasoline, a step toward energy independence. But critics argue that ethanol burns far less efficiently than gasoline, driving up fuel consumption and that it increases demand for corn for fuel and artificially boosts the cost of farm commodities and retail prices of food. They also say such an incentive is unnecessary because legislation enacted in 2007 requires oil companies to produce 36 billion gallons of biofuels such as ethanol by 2022. While born of good intentions, federal subsidies for ethanol have failed to achieve their intended goals of energy independence, U.S. Sen. Tom Coburn, a Republican from Oklahoma and leading critic of the ethanol subsidy, said in 2011. The effort to Kill the Ethanol Subsidy Coburn led an effort to repeal the ethanol subsidy in June of 2011, saying it was a waste of taxpayer money - he said the Volumetric Ethanol Excise Tax Credit cost $30.5 billion from 2005 through 2011 - because consumption remained only a small part of the countrys fuel use. His effort to repeal the ethanol subsidy failed in the Senate by a vote of 59 to 40. While Im disappointed my amendment did not pass, taxpayers should remember that when I offered an amendment to defund the Bridge to Nowhere in Alaska in 2005 we lost that vote 82 to 15, Coburn said in a statement. Over time, however, the will of the people prevailed and Congress was forced to scale back this wasteful and corrupting practice. Today, the earmark favor factory is mostly closed. Only the tax division remains open. Im confident this debate, and many more ahead, will expose the tax code for what it is - an abomination that favors the well-connected over working families and small businesses. History of the Ethanol Subsidy The Volumetric Ethanol Excise Tax Credit ethanol subsidy became law on Oct. 22, 2004, when President George W. Bush signed the American Jobs Creation Act into law. Included in that piece of legislation was the Volumetric Ethanol Excise Tax Credit. The initial bill gave ethanol blenders a tax credit of 51 cents for every gallon of ethanol they mixed with gasoline. Congress reduced the tax incentive by 6 cents per gallon as part of the 2008 Farm Bill. According to the Renewable Fuels Association, gasoline refiners and marketers are required to pay the full rate of tax, which is 18.4 cents per gallon on the total gasoline-ethanol mixture but can claim the 45 cents per gallon tax credit or refund for each gallon of ethanol used in the mixture. The ethanol subsidy benefits multibillion-dollar integrated oil companies such as BP, Exxon, and Chevron. The First Ethanol Subsidy The Energy Policy Act of 1978 was the first federal legislative ethanol subsidy. It allowed for a 40-cent tax exemption per gallon of ethanol, according to Purdue University.The Surface Transportation Assistance Act of 1982 increased the tax exemption to 50 cents per gallon of ethanol.The 1990 Omnibus Budget Reconciliation Act extended the ethanol subsidy to 2000 but decreased the amount to 54 cents a gallon.The 1998 Transportation Efficiency Act of the 21st Century extended the ethanol subsidy through 2007 but reduced it to 51 cents per gallon by 2005.Bushs signature on the Jobs Creation Act changed the way the modern ethanol subsidy worked. Instead, it offered a straight tax credit to producers, the legislation allowed for the blenders credit. President Trump Protects the Ethanol Subsidy During his 2016 campaign, President Donald Trump came out as one of the ethanol subsidy’s strongest supporters. Speaking in Iowa, where corn is king, on January 21, 2016, he said, â€Å"The EPA should ensure that biofuel . . . blend levels match the statutory level set by Congress,† adding that he was â€Å"was â€Å"there with you [farmers] 100 percent† on continuing federal subsidy for ethanol. â€Å"You’re going to get a really fair shake from me.† After Trump took office in January 2017, all seemed well with the ethanol subsidy until early October, when his own EPA administrator Scott Pruitt announced that the agency was considering lowering the EPA-mandated subsidy payment level for ethanol â€Å"slightly† in 2018. The suggestion sent shockwaves through the Corn Belt and its Republican congressional protectors. Iowa Sen. Chuck Grassley accused Trump of a â€Å"bait and switch,† in reference to his empathic campaign promise. Grassley and Iowa’s other Republican senator, Joni Ernst, threatened to block all of Trump’s future EPA appointments. The governors of most Corn Belt states joined in sending Trump warning him than any cutback in the Renewable Fuel Standard program’s subsidies would be â€Å"highly disruptive, unprecedented and potentially catastrophic.† Faced with the potential loss of influence over some of his strongest congressional backers, Trump quickly told Pruitt to back off any future talk of cutting the ethanol subsidy. On July 5, 2018, Pruitt resigned amid multiple accusations of ethics violations involving his excessive and unauthorized personal use of government funds. He was replace within hours by EPA deputy director Andrew Wheeler, a former lobbyist for the coal industry.