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INDUSTRY POLICY: Develop ethanol to cut the foreign debt

Patrick J. ByrneJun 24, 20065 min read

About half of Australia’s $19 billion trade deficit is the result of oil imports. A first step towards cutting imports would be the development of a domestic ethanol fuel industry, writes Pat Byrne.Rodrigo de Rato y Figaredo, head of the International Monetary Fund (IMF), told the National Press Club in Canberra that Australia had to cuts its current account deficit (CAD) from 5.6…

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