How much did the government's sugar surplus cost?
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Published in Daily Trivia
In January 1986, it was revealed that the U.S. government's first effort to rid itself of a surplus of sugar cost taxpayers about $36 million. Approximately 122,000 tons of sugar were sold a month earlier to Shepherd Oil Company of Louisiana for $7.4 million, to be converted into ethanol to blend with gasoline. The sugar had cost the U.S. Agriculture Department $43.2 million. It was estimated that, at those rates, the losses accrued to unload the sugar could exceed $100 million.
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