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Ethanol Industry Faces Crisis in Brazil: Daily

By Mary Carroll, Contributing Reporter

RIO DE JANEIRO, BRAZIL – The ethanol industry used to fuel a large percent of vehicles on the roads of Brazil is in a state of crisis following moves by the government to reduce gasoline and diesel costs at the pump. The CIDE tax recently cut to help Petrobras stay competitive has in effect undercut Brazil's pioneering ethanol industry, creating a bleak outlook for the alternative fuel sector.

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