U.S. Ethanol Credit May Be Cut by House Republicans

A Republican takeover of the House of Representatives and other election victories yesterday may mean that U.S. subsidies aiding ethanol producers will be cut after the party pledged to reduce government spending.

Congressional leadership changes may include Frank Lucas of Oklahoma taking over as chairman of the House Agriculture Committee from Collin Peterson of Minnesota. Democrat Debbie Stabenow may replace Senate farm-panel chairwoman Blanche Lincoln, who lost her race in Arkansas. Poet LLC is the biggest U.S. ethanol producer, followed by Archer Daniels Midland Co.