they havbeen giving a a lot of this to the cellulosic ethanol industry.ve never produced any quantity of fuel, was mandated by congress, and they slap down the epa. epa has been mandated that refiners use over $8 million of cellulosic ethanol, even though last year they produced 20,000 gallons. >> it doesn't work. >> sorry, thank you, gerri the one you are fantastic and come back anytime. gerri: the average price of a gallon of gas is up 2 cents over the past two weeks. $3.35 as the average. that is also up 6 cents in just one month. los angeles has the highest at $3.71. coming up next, a debate on the dow and whether it is sustainable. and that it's not just the green energy bubble. investors need to be warned of a bond bubble. rates could spike. i'll explain after the break. officemax knows... ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. sven gets great rewards for his small business! how does this thing work? oh, i like it

one that sticks is the cellulosic ethanol provision.n industry that has never produced any sizable quantities of ethanol at market prices, yet they get an extension of the tax credit. the amount of land that would be needed to make it work just boggles my mind. it doesn't work. it can't work. and yet they got an extension of the tax crits and in this bill. it is another bad example. gerri: let's talk about something that does work. apparently the coal industry is going great ns and other parts of the world, but not very. >> is a remarkable story. i appreciate you bringing it up. if you look at what is happening, u.s. coal consumption is declining rapidly. but what is happening globally, if you look at the report that came out of the iea just last month, they are looking at and reporting on booming global coal production and consumption. over the next five years, it will increase by as much as the u.s. and russia combined. so of this fixation here in the u.s., we are patting ourselves on the back for wind and the other things. global omi

that is what we were looking for and we have cellulosic now. we have issued our first -- which is very exciting and we have really good data in terms of identifying the industry moving forward. so we have turned a bit of the corner there that we are hoping will continue to grow. >> in the back here. >> marked with channel designer. two things. first, i think you completely missed the tax question. i think the answer drifted off in a different direction and he didn't talk about if gasoline falls down and percentage of fuel in the gas tax stays flat where are you going to get the ravage do the road were? you had interesting comments but you didn't answer the question. the second thing is you are talking about electric automobiles and things like that like the electric grid can handle electric automobiles and the power plants and there is the capacity in the state public utility commissions are supportive of expansions in both generation and transmission which some of us in the field don't see. so two parts to that. >> anyone want to weigh in on t

racing track facilities, $59 million in tax credits to algae growers to encourage development of cellulosic biofuel and $4 million for electric motorcycle manufacturers. vicks dayquil -- powerful non-drowsy 6-symptom cold & flu relief. ♪ no matter what city you're playing tomorrow. [ coughs ] [ male announcer ] you can't let a cold keep you up tonight. ♪ vicks nyquil -- powerful nighttime 6-symptom cold & flu relief. ♪ at what our members have accomplished in the past 50 years, it's pretty amazing. ♪ i feel like i'm on top of the world right now ♪ ♪ on top of the world right now ♪ introducing a weight loss program 50 years in the making. ♪ and i feel like i'm standing 10 ft. tall ♪ built on the power of the human spirit. built for human nature, so you can expect amazing. introducing the new weight watchers 360 program. join for free and expect amazing. because it works. a. >>> if the volatile fiscal cliff negotiations strained the dead line, wait a minute. there are three more fights coming up that made this seem like round one. >> whatever your point of view, we got that triple play or tri

and we have cellulosic now. we have issued our first, very exciting, and we have really good data in terms of identifying both of -- the bulk of that industry before it. we have turned a bit of a corner and that we're continuing to grow. >> in the back. >> marquardt, a designer. two things. i think you completely missed the tax question. i think the answer drifted off to a different direction and you did not talk about if gasoline falls down in the percentage of fuel and that gas tax stays flat, where you get the revenue to do the road work. i think the interesting comments, but he did not answer the question. the second thing, you're talking about electric automobiles and things like that, the electric grid can handle electric automobiles and a power plants. there is a capacity in the state public utility commissions supportive of expansions in both generation and transmission which some of us in the field don't see. so two parts to that. >> anyone want to weigh in? >> let me jump, if i may, the state of califo

cellulosic biofuels.e haven't produced them xhemplly even though there's a requirement to do so, and the television industry, record profits at the movies, certainly television, these are the kinds of things that should not be in a bill that's addressing a greater need related to tax rates. they just get extended year after year without much thought. >> we all know hose these things get in here. senator mccain said these are always like christmas trees. the question is, why do we hear about them after the thing has already been passed. that has to be frustrate iing that's the big issue. they come up once a year as an extension, again there's not a lot of discussion, not really open hearings that everybody knows about, so they also get lost in the larger piece of legislation, in this case stopping the fiscal cliff with the tax extensions. so, you know, in washington what's a few hundred million here and there? three provisions, by the way first rated or expanded in the stimulus, $134 billion. those are pro

the person doesn't want to cellulose, so you grab them without that person's consent. we'll come back to the legal issues throughout the discussion here, but sticking to the policy side of it is there is a reason why you can't get out of the trust. the reason is the united states government, tax law does not allow laws to be sold out. so when you come back to the legal analysis and figuring out whether mrp's proposal would violate commerce, the clear answer is because the loans are regulated in the stress, bloggers and allow them to be sold out. in fact it allow them to be written within the trust as long as the service or believes that's in the best interest of the investor. servicers in fact are not operated on behalf of the best interest of investors in the investors sophisticated are duped by their service or not to do the right thing on the phone. i have a very hard time going back to institutional investors diminished choice of dollars of assets going back and saying, your irrational. you don't know what you're doing. go tell services to write down massive amount

at a cost of $59 million for algae growers and others who are trying to produce something called cellulosicls. that's fuel made from the fibery parts of grasses, trees, and yes, algae. here's what tom shathz says about this. it's pretty outrageous? >> absolutely. this is a product that has not been used commercially yet in the united states. >> reporter: professor kangga says that's true, but as someone who's spent years researching how to turn algae into fuel, he says it's worth trying. >> al ji actually grows faster than any other kinds of plants. that's why it may well be the best source of a fuel. >> reporter: but the cliff deal gives $4 million over two years to the makers of plug-in electric motorcycles and $430 million to movie and tv producers. >> they are profitable, large companies. this does not help small businesses. the limit is $15 million, as the amount of money that they can expense. so it's not a low-budget film, to say the least. >> but if it encourages them to do their -- to produce their movies in united states, rather than taking it overseas, isn't that a good thing? >>