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71-656: SFC also researched and promoted the use of alcohol fuels , solar energy , and the production of fuel from urban waste . Over its 6-year existence, the SFC only spent approximately $ 960 million (barely five percent of its initial 1980 budget) to fund four synthetic fuels projects, none of which survive today. The corporation was abolished in April 1986. Initially proposed as the "Energy Security Corporation" in President Jimmy Carter 's malaise speech of July 15, 1979,

142-416: A 70% methanol use to conventional gasoline an independence from crude oil . National Committee of Planning and Action Coordination for Clean Automobile had listed key technologies related to alcohol/ether fuel and accelerated industrialization into its main agenda. Alcohol fuels had become part of five main alternative fuels: Two of which were alcohols; methanol and ethanol The United States at

213-499: A Continental ". The office has, since the late 18th century, been customarily referred to as the singular "Treasury", without any preceding article , as a remnant of the country's transition from British to American English . For example, the department notes its guiding purpose as "Treasury's mission" instead of "the Treasury's mission." Robert Morris was designated Superintendent of Finance in 1781 and restored stability to

284-542: A Department of Treasury, in which shall be the following officers, namely: a Secretary of the Treasury, to be deemed head of the department; a Comptroller, an Auditor, a Treasurer, a Register, and an Assistant to the Secretary of the Treasury , which assistant shall be appointed by the said Secretary. Alexander Hamilton took the oath of office as the first secretary of the treasury on September 11, 1789. Hamilton had served as George Washington 's aide-de-camp during

355-411: A box filled with U.S. currency, including a number of thousand-dollar bills, and reported it to Secretary Spinner. U.S. President Abraham Lincoln subsequently honored her with a commendation for her actions, and the federal government rewarded her with an appointment for life as a messenger with its Department of Issues. The U.S. Congress transferred several agencies that had previously been under

426-636: A compression ignition engine fuel, both alcohols create very few particulates, but their low cetane number means that an ignition improver like glycol must be mixed into the fuel at approx. 5%. When used in spark ignition engines alcohols have the potential to reduce NOx , CO , HC and particulates. A test with E85 fueled Chevrolet Luminas showed that NMHC went down by 20-22%, NOx by 25-32% and CO by 12-24% compared to reformulated gasoline. Toxic emissions of benzene and 1,3-butadiene also decreased while aldehyde emissions increased, ( acetaldehyde in particular). Tailpipe emissions of CO 2 also decrease due to

497-485: A direct fuel source for petrol engines (unlike ethanol, methanol and butanol), with most being directed into use as a solvent. However, it is used as a source of hydrogen in some types of fuel cell; it can generate a higher voltage than methanol, which is the fuel of choice for most alcohol-based fuel cells. However, since propanol is harder to produce than methanol (biologically or from oil), methanol-utilizing fuel cells are preferred over those that utilize propanol. Brazil

568-576: A former Alabama congressman. No less than three trade magazines were launched — The Synfuels Report , Synfuels Weekly , and Synfuels . Two industry-insider books were quickly published, The U.S. Synthetic Fuels Program and Synfuels Handbook: Including the YELLOW PAGES of Synfuels . In the run up to the ESA's passage, the executive committee of the Ad Hoc Coalition on Synthetic Fuels hosted

639-457: A high flash point of 35 °C, which is a benefit for fire safety, but may be a difficulty for starting engines in cold weather. The concept of flash point is, however, not directly applicable to engines as the compression of the air in the cylinder means that the temperature is several hundred degrees Celsius before ignition takes place. The fermentation processes to produce propanol and butanol from cellulose are fairly tricky to execute, and

710-456: A high octane rating , with ethanol at 109 RON ( Research Octane Number ), 90 MON ( Motor Octane Number ), (which equates to 99.5 AKI ) and methanol at 109 RON, 89 MON (which equates to 99 AKI). Note that AKI refers to ' Anti-Knock Index ' which averages the RON and MON ratings (RON+MON)/2, and is used on U.S. gas station pumps. Ordinary European petrol is typically 95 RON, 85 MON, equal to 90 AKI. As

781-406: A low concentration of contaminants and have a suitable corrosion inhibitor added. Scientific evidence reveals that water is an inhibitor for corrosion by ethanol. The experiments are done with E50, which is more aggressive and speeds up the corrosion effect. It is very clear that by increasing the amount of water in fuel ethanol one can reduce corrosion. At 2% or 20,000 ppm water in the ethanol fuel

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852-652: A mix with gasoline is increasing. Compared to methanol its primary advantage is that it is less corrosive and non-toxic, although the fuel will produce some toxic exhaust emissions. Since 2007, the Indy Racing League has used ethanol as its exclusive fuel, after 40 years of using methanol. Since September 2007 petrol stations in NSW, Australia have been mandated to supply all their petrol with 2% ethanol content Propanol and butanol are considerably less toxic and less volatile than methanol. In particular, butanol has

923-579: A reception in honor of congressmen and conference committee staff on June 19, 1980, funded by four American natural resources companies: Ashland Oil , C.-E. Lummus , Tosco , and Tenneco . These firms had significant investments in synthetic fuels projects. After Ronald Reagan was elected president and Republicans took the Senate in the 1980 election , Reagan severely cut the SFC's funding, scaled it down, and finally phased it out. Constant reshuffling of members and congressional meddling succeeded in stifling

994-629: A report called Helping Insure Our Energy Future: A Program for Developing Synthetic Fuel Plants Now was published by the Committee for Economic Development (CED), an independent research and educational organization of 200 business executives and educators, made the case for the urgent need for synfuel industry development. Industry lobbyists in Washington formed the National Council on Synthetic Fuels Production headed by Walter Flowers,

1065-416: A small scale butanol fuel demonstration plant alongside the large bioethanol plant they are jointly developing with Associated British Foods . The company Energy Environment International developed a method for producing butanol from biomass, which involves the use of two separate micro-organisms in sequence to minimize production of acetone and ethanol byproducts. The Swiss company Butalco GmbH uses

1136-403: A special technology to modify yeasts in order to produce butanol instead of ethanol. Yeasts as production organisms for butanol have decisive advantages compared to bacteria. Butanol combustion: C 4 H 9 OH + 6O 2 → 4CO 2 + 5H 2 O + heat Propanol combustion: 2C 3 H 7 OH + 9O 2 → 6 CO 2 + 8H 2 O + heat The 3-carbon alcohol, propanol (C 3 H 7 OH), is not often used as

1207-532: A strain of the Weizmann organism with a butanol resistance higher than the natural boundary of 7%. This would be useful because butanol has a higher combustion energy density than ethanol, and because waste fibre left over from sugar crops used to make ethanol could be made into butanol, raising the alcohol yield of fuel crops without requiring more crops to be planted. Despite these drawbacks, DuPont and BP have recently announced that they are jointly to build

1278-750: A tight oxide layer; water is essential to repair the holes in the oxide layer. Methanol and ethanol are incompatible with some polymers. The alcohol reacts with the polymers causing swelling, and over time oxygen breaks down the carbon-carbon bonds in the polymer causing a reduction in tensile strength. For the past few decades though, most cars have been designed to tolerate up to 10% ethanol (E10) without problem. This includes both fuel system compatibility and lambda compensation of fuel delivery with fuel injection engines featuring closed loop lambda control. In some engines ethanol may degrade some compositions of plastic or rubber fuel delivery components designed for conventional petrol, and also be unable to lambda compensate

1349-671: A transitional remnant from British to American English . Hamilton's portrait appears on the obverse of the ten-dollar bill , while the Treasury Building in Washington, D.C. is depicted on the reverse . The history of the Department of the Treasury began in the turmoil of the American Revolution , when the Continental Congress at Philadelphia deliberated the crucial issue of financing

1420-461: A war of independence against Great Britain . The Congress had no power to levy and collect taxes, nor was there a tangible basis for securing funds from foreign investors or governments. The delegates resolved to issue paper money in the form of bills of credit , promising redemption in coin on faith in the revolutionary cause. On June 22, 1775, only a few days after the Battle of Bunker Hill ,

1491-444: Is C n H 2n+1 OH . Most methanol is produced from natural gas, although it can be produced from biomass using very similar chemical processes. Ethanol is commonly produced from biological material through fermentation processes. Biobutanol has the advantage in combustion engines in that its energy density is closer to gasoline than the simpler alcohols (while still retaining over 25% higher octane rating); however, biobutanol

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1562-437: Is currently more difficult to produce than ethanol or methanol. When obtained from biological materials and/or biological processes, they are known as bioalcohols (e.g. "bioethanol"). There is no chemical difference between biologically produced and chemically produced alcohols. One advantage shared by the four major alcohol fuels is their high octane rating . This tends to increase their fuel efficiency and largely offsets

1633-477: Is now proceeding with research and development of an original alcohol fuel that differs from GAIAX. However, the commercial manufacture and sale of any new fuel may be barred by existing laws that currently exclude GAIAX from the market. Moreover, the strong aversion by the Japanese consumer to a high density alcohol fuel of any type may prevent commercial success of any new fuel. United States Department of

1704-554: Is partially oxygenated, it produces less overall pollution, including ozone . In some areas (California in particular) the regulations may also require other formulations or added chemicals that reduce pollution, but add complexity to the fuel distribution and increase the cost of the fuel. The first alcohol fuel in Japan began with GAIAX in 1999. GAIAX was developed in South Korea , and imported by Japan. The principal ingredient

1775-617: Is the simpler molecule, and ethanol can be made from methanol. Methanol can be produced industrially from nearly any biomass, including animal waste, or from carbon dioxide and water or steam by first converting the biomass to synthesis gas in a gasifier . It can also be produced in a laboratory using electrolysis or enzymes. As a fuel, methanol and ethanol both have advantages and disadvantages over fuels such as petrol (gasoline) and diesel fuel . In spark ignition engines, both alcohols can run at much higher exhaust gas recirculation rates and with higher compression ratios . Both alcohols have

1846-621: The American Revolutionary War and was influential in the ratification of the Constitution. Hamilton's financial and managerial acumen made him a logical choice for addressing the problem of the new nation's heavy war debt . His first official act as secretary was to submit a report to Congress in which he laid the foundation for the nation's financial health. To the surprise of many legislators, he insisted upon federal assumption and dollar-for-dollar repayment of

1917-617: The Bank of the United States , which acted as the government's fiscal agent . The Department of Treasury believes their seal was created by Francis Hopkinson , the treasurer of loans. He submitted bills to Congress in 1780 that authorized the design of department seals, including a seal for the Board of Treasury. While it is not certain that Hopkinson designed the seal, it closely resembles others he created. In 1861, Sophia Holmes became

1988-695: The Department of Justice as the Bureau of Alcohol, Tobacco, Firearms, and Explosives (BATFE). The regulatory and tax collection functions of ATF related to legitimate traffic in alcohol and tobacco remained with the treasury at its new Alcohol and Tobacco Tax and Trade Bureau (TTB). Effective March 1, 2003, the Federal Law Enforcement Training Center , the United States Customs Service , and

2059-529: The United States Secret Service were transferred to the newly created Department of Homeland Security ("DHS") . In 2020, the Treasury suffered a data breach following a cyberattack likely conducted by a nation state adversary , possibly Russia. This was in fact the first detected case of the much wider 2020 United States federal government data breach , which involved at least eight federal departments. The basic functions of

2130-520: The Brazilian leading production and technology, many countries became very interested in importing alcohol fuel and adopting the "Flex" vehicle concept. On March 7 of 2007, US president George W. Bush visited the city of São Paulo to sign agreements with Brazilian president Luiz Inácio Lula da Silva on importing alcohol and its technology as an alternative fuel. As early as 1935, China has made alcohol fuel powered cars. China has reported with

2201-531: The Brazilian market can use E100 (100% ethanol). One liter of ethanol releases 21.1 MJ in combustion, a liter of methanol 15.8 MJ and a liter of gasoline approximately 32.6 MJ. In other words, for the same energy content as one liter or one gallon of gasoline, one needs 1.6 liters/gallons of ethanol and 2.1 liters/gallons of methanol. The raw energy-per-volume numbers produce misleading fuel consumption numbers, however, because alcohol-fueled engines can be made substantially more energy-efficient. A larger percentage of

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2272-561: The Continental Congress issued $ 2 million in bills; on July 25, 28 citizens of Philadelphia were employed by Congress to sign and number the currency. On July 29, 1775, the Second Continental Congress assigned the responsibility for the administration of the revolutionary government's finances to joint Continental treasurers George Clymer and Michael Hillegas . Congress stipulated that each of

2343-688: The Department of the Treasury include: With respect to the estimation of revenues for the executive branch , Treasury serves a purpose parallel to that of the Office of Management and Budget for the estimation of spending for the executive branch, the Joint Committee on Taxation for the estimation of revenues for Congress, and the Congressional Budget Office for the estimation of spending for Congress. From 1830 until 1901, responsibility for overseeing weights and measures

2414-434: The ESA, the corporation had to issue its first solicitation for synthetic fuel projects by the end of December 1980; the proposal deadline was set for March 31, 1981. Sixty-one firms in 24 states submitted proposals, and of these, 19 were for coal liquefaction, 17 coal gasification, 14 oil shale, 8 tar sands oil production, and 3 for other fuels. Wall Street was eager to begin investing in the synfuels industry. In July 1979,

2485-620: The SFC chair, but the Senate Republicans refused to confirm Sawhill or any other board nominee. Signing Executive Order 12242, Carter assigned SFC responsibilities to the Department of Energy and Department of Defense until the SFC could be declared operational. The DoD used this brief window to fund the Union Oil Parachute Creek and Colony/Tosco oil shale projects. In October, Carter was forced to make recess appointments of Sawhill and four others. Pursuant to

2556-686: The SFC operational and officially open for business. In May, Reagan appointed two additional SFC board members, John Carter and Milton Masson, who were not sworn in until August. In August 1983, the SFC president and CEO, Schroeder, resigned his position but remained a board member. Over the course of several months, starting in January 1984, five members, Monks, Wilkins, Schroeder, Thompson, and Carter, resigned. Not until November were three replacements, Corcoran, MacAvoy, and Reichl, appointed and in December sworn in as board members. They were not confirmed by

2627-516: The SFC, with a maximum of three hundred full-time professional employees. The SFC's mandated goal was the production of at least 500,000 barrels (79,000 m) of crude oil equivalent per day in synthetic fuels from domestic sources by 1987 and at least 2 million barrels (320,000 m) per day by 1992. The SFC was kept out of the Department of Energy and legislatively chartered to be free of normal government rules, regulations, and procedures. In September 1980, Carter nominated John C. Sawhill to be

2698-787: The SFC. The Great Plains coal gasification plant in Beulah, North Dakota , still producing natural gas and sequestering carbon in 2009, was built with the support of the Department of Energy and applied for further support by this corporation, partly as a result of efforts by Reagan's Energy Secretary James B. Edwards . Alcohol fuel Various alcohols are used as fuel for internal combustion engines . The first four aliphatic alcohols ( methanol , ethanol , propanol , and butanol ) are of interest as fuels because they can be synthesized chemically or biologically, and they have characteristics which allow them to be used in internal combustion engines. The general chemical formula for alcohol fuel

2769-521: The SFCs functioning. In January 1981, the board members submitted undated resignations to Reagan, and Reagan accepted them at the end of the month. Jack McAtee assumed the acting chair position. In April, Reagan nominated Edward Noble as chair in April. Edward Noble, a real-estate developer from Atlanta with roots in the Oklahoma oil business, was a large financial backer of The Heritage Foundation , which

2840-537: The Senate until June 1985. Hollowed out and neutered, the SFC instead became a place to repay political donors and friends with do-nothing job appointments. This was then used as a pretext to abolish the SFC. In December, Congress passed P.L. 99-190 which terminated SFC authority to award new financial assistance and set a 120-day time limit left to transfer projects to the Treasury department and to shut down. In April 1986, Congress passed P.L. 99-272 formally abolishing

2911-563: The Treasury The Department of the Treasury ( USDT ) is the national treasury and finance department of the federal government of the United States , where it serves as an executive department . The department oversees the Bureau of Engraving and Printing and the U.S. Mint . These two agencies are responsible for printing all paper currency and minting coins , while the treasury executes currency circulation in

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2982-423: The United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes . The department was established by an Act of Congress in 1789 to manage government revenue . The first secretary of the treasury was Alexander Hamilton , who was sworn into office on September 11, 1789. Hamilton

3053-655: The Weizmann organism ( Clostridium acetobutylicum ) currently used to perform these conversions produces an extremely unpleasant smell, and this must be taken into consideration when designing and locating a fermentation plant. This organism also dies when the butanol content of whatever it is fermenting rises to 2%. For comparison, yeast dies when the ethanol content of its feedstock hits 14%. Specialized strains can tolerate even greater ethanol concentrations - so-called turbo yeast can withstand up to 16% ethanol. However, if ordinary Saccharomyces yeast can be modified to improve its ethanol resistance, scientists may yet one day produce

3124-668: The aegis of the Treasury Department to other departments as a consequence of the September 11 attacks . Effective January 24, 2003, the Bureau of Alcohol, Tobacco and Firearms (ATF), which had been a bureau of the department since 1972, was extensively reorganized under the provisions of the Homeland Security Act of 2002 . The law enforcement functions of ATF, including the regulation of legitimate traffic in firearms and explosives , were transferred to

3195-565: The colonies contribute to the Continental government's funds. To ensure proper and efficient handling of the growing national debt in the face of weak economic and political ties between the colonies, the Congress, on February 17, 1776, designated a committee of five to superintend the treasury, settle accounts , and report periodically to the Congress. On April 1, a Treasury Office of Accounts, consisting of an auditor general and clerks ,

3266-539: The conductivity of the fuel. Increased electrical conductivity promotes electrical, galvanic and ordinary corrosion in the fuel system. Soluble contaminants such as aluminum hydroxide, itself a product of corrosion by halide ions, clog the fuel system over time. To prevent corrosion the fuel system must be made of suitable materials, electrical wires must be properly insulated and the fuel level sensor must be of pulse and hold type, magneto resistive or other similar non-contact type. In addition, high quality alcohol should have

3337-599: The corporation's funding was allocated from income from the windfall-profits tax set up in April 1980 under the Crude Oil Windfall Profit Tax Act. After long congressional conference sessions, due to heavy opposition from candidate Ronald Reagan and congressional Republicans, the ESA was finally passed in June 1980. Congress authorized over 12 years funding of $ 88 billion plus $ 35 million in annual administrative expenses (adjusted for inflation) for

3408-428: The corrosion stopped. In line with the observations in Japan, hydrous ethanol is known to be less corrosive than anhydrous ethanol. The reaction mechanism is 3 EtOH + Al -> Al(OEt) 3 + 3 ⁄ 2 H 2 at lower-mid blends. When enough water is present in the fuel, aluminum will react preferably with water to produce Al 2 O 3 , repairing the protective aluminum oxide layer. The aluminum alkoxide does not make

3479-467: The country's $ 75 million debt in order to revitalize the public credit : "[T]he debt of the United States was the price of liberty. The faith of America has been repeatedly pledged for it, and with solemnities that give peculiar force to the obligation." Hamilton foresaw the development of industry and trade in the United States, suggesting that government revenues be based upon customs duties . His sound financial policies also inspired investment in

3550-539: The domestic fiscal system. It collects all federal taxes through the Internal Revenue Service ; manages U.S. government debt instruments ; licenses and supervises banks and thrift institutions ; and advises the legislative and executive branches on matters of fiscal policy . The department is administered by the secretary of the treasury , who is a member of the Cabinet . The treasurer of

3621-610: The end of 2007 was producing 26.9 billion litres (7 billion gallons) per year. E10 or Gasohol is commonly marketed in Delaware and E85 is found in many states, particularly in the Midwest where ethanol from corn is produced locally. Many states and municipalities have mandated that all gasoline fuel be blended with 10 percent alcohol (usually ethanol) during some or all of the year. This is to reduce pollution and allows these areas to comply with federal pollution limits. Because alcohol

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3692-479: The energy released by combustion of a liter of alcohol fuel can be converted to useful work. This difference in efficiency can partially or totally balance out the energy density difference, depending on the particular engines being compared. Methanol fuel has been proposed as a future biofuel, often as an alternative to the hydrogen economy . Methanol has a long history as a racing fuel. Early Grand Prix Racing used blended mixtures as well as pure methanol. The fuel

3763-526: The finances of the confederation of former colonies until September 1789. The First United States Congress convened in New York City on March 4, 1789, marking the beginning of government under the U.S. Constitution . On September 2, 1789, Congress created a permanent institution for the management of government finances: Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That there shall be

3834-534: The first Black woman to be employed by the Treasury Department and by the Federal government of the United States when Senator Henry Wilson , James G. Blaine and others advocated for her hiring as a janitor under Secretary of the Treasury Francis Spinner . She was paid fifteen dollars per month. In 1862, she prevented a major theft from the department of more than $ 200,000 when she came across

3905-413: The formulation of policy and management of the department as a whole, while the operating bureaus carry out the specific operations assigned to the department. The Treasury Department has authorized a budget for Fiscal Year 2024 of $ 16.5 billion. The budget authorization is broken down as follows: In the latest Center for Effective Government analysis of the fifteen federal agencies that receive

3976-543: The fuel properly. "FlexFuel" vehicles have upgraded fuel system and engine components which are designed for long life using E85 or M85, and the ECU can adapt to any fuel blend between gasoline and E85 or M85. Typical upgrades include modifications to: fuel tanks, fuel tank electrical wiring, fuel pumps, fuel filters, fuel lines, filler tubes, fuel level sensors, fuel injectors, seals, fuel rails, fuel pressure regulators, valve seats and inlet valves. "Total Flex" autos destined for

4047-498: The leading market share. However, from 2003 on, alcohol has rapidly increased its market share once again because of new technologies involving flexible-fuel engines , called "Flex" or "Total Flex" by all major car manufacturers ( Volkswagen , General Motors , Fiat , etc.). "Flex" engines work with gasoline, alcohol or any mixture of both fuels. As of May 2009, more than 88% of new vehicles sold in Brazil are flex fuel. Because of

4118-440: The lower carbon-to-hydrogen ratio of these alcohols, and improved engine efficiency. Methanol and ethanol fuels contain soluble and insoluble contaminants. Halide ions, which are soluble contaminants, such as chloride ions, have a large effect on the corrosivity of alcohol fuels. Halide ions increase corrosion in two ways: they chemically attack passivating oxide films on several metals causing pitting corrosion, and they increase

4189-591: The lower energy density of vehicular alcohol fuels (as compared to petrol/gasoline and diesel fuels), thus resulting in comparable "fuel economy" in terms of distance per volume metrics, such as kilometers per liter, or miles per gallon. Methanol and ethanol can both be derived from fossil fuels , biomass, or from carbon dioxide and water. Ethanol has most commonly been produced through fermentation of sugars, and methanol has most commonly been produced from synthesis gas, but there are more modern ways to obtain these fuels. Enzymes can be used instead of fermentation. Methanol

4260-418: The nation's finances. Morris, a wealthy colonial merchant , was nicknamed "the financier" because of his reputation for procuring funds or goods on a moment's notice. His staff included a comptroller , a treasurer , a register , and auditors , who managed the country's finances through 1784, when Morris resigned because of ill health. The treasury board, consisting of three commissioners, continued to oversee

4331-418: The primary advantage of methanol biofuel is its much greater well-to-wheel efficiency. This is particularly relevant in temperate climates where fertilizers are needed to grow sugar or starch crops to make ethanol, whereas methanol can be produced from unfertilized lignocellulose (woody) biomass. Ethanol is already being used extensively as a fuel additive , and the use of ethanol fuel alone or as part of

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4402-459: Was appointed by President George Washington on the recommendation of Robert Morris , Washington's first choice for the position, who had declined the appointment. Hamilton established the nation's early financial system and for several years was a major presence in Washington's administration . The department is customarily referred to as "Treasury", solely, without any preceding article –

4473-521: Was being refueled began to be reported in around 2000 when the tax evasion discussion had almost ended. The car industry in Japan criticized GAIAX, saying that "fires broke out because high density alcohol had corroded the fuel pipes". GAIAX was named a "high density alcohol fuel", and a campaign was executed to exclude it from the market long term. Finally, the Ministry of Economy, Trade and Industry also joined this campaign. The gasoline quality method

4544-558: Was carried out by the Office of Standard Weights and Measures under the auspices of the Treasury Department. After 1901, that responsibility was assigned to the agency that subsequently became known as the National Institute of Standards and Technology . The Department of the Treasury is organized into two major components: the departmental offices and the operating bureaus. The departmental offices are primarily responsible for

4615-580: Was established to facilitate the settlement of claims and to keep the public accounts for the government of the United Colonies. With the signing of the Declaration of Independence on July 4, 1776, the newborn republic as a sovereign nation was able to secure loans from abroad. Despite the infusion of foreign and domestic loans, the united colonies were unable to establish a well-organized agency for financial administration. Michael Hillegas

4686-401: Was first called Treasurer of the United States on May 14, 1777. The Treasury Office was reorganized three times between 1778 and 1781. The $ 241.5 million in paper Continental bills devalued rapidly. By May 1781, the dollar collapsed at a rate of from 500 to 1000 to 1 against hard currency . Protests against the worthless money swept the colonies, giving rise to the expression " not worth

4757-416: Was methanol. Because GAIAX was not gasoline, it was a tax-free object of the gas tax of Japan . However, as a result, the use of GAIAX came to be considered an act of smuggling in Japan by the government and the petroleum industry. Retailing of GAIAX was done to avoid the tax evasion criticism by independently paying the diesel fuel tax in the legal system regulations. Accidental vehicle fires where GAIAX

4828-661: Was primarily used in North America after the war. However, methanol for racing purposes has largely been based on methanol produced from syngas derived from natural gas and therefore this methanol would not be considered a biofuel. Methanol is a possible biofuel, however, when the syngas is derived from biomass . In theory, methanol can also be produced from sustainably sourced biomass and ultimately carbon dioxide, and by hydrogen electrolysis using nuclear power, geothermal power or some other renewable energy source (see Carbon Recycling International ). Compared to bioethanol,

4899-404: Was revised under the pretext of safety concerns in 2003. This prohibited the manufacturing and sale of "High density alcohol fuel", and added a substantial GAIAX sales ban. By revising the law, fuel manufacturers are prohibited from adding 3% or more alcohol to gasoline. This revision to the law is grounds not to be able to sell alcohol fuel greater than E3 in Japan. The petroleum industry in Japan

4970-433: Was until recently the largest producer of alcohol fuel in the world, typically fermenting ethanol from sugarcane . The country produces a total of 18 billion litres (4.8 billion gallons) annually, of which 3.5 billion liters are exported, 2 billion of them to the U.S. Alcohol cars debuted in the Brazilian market in 1979 and became quite popular because of a heavy subsidy, but in the 1980s prices rose and gasoline regained

5041-508: Was very supportive of Reagan and paid the salaries of several SFC transition team members. In May, Reagan nominated four transition members, Robert Monks, Victor Schroeder, Victor Thompson, and Howard Wilkins, to the SFC board. After Noble was confirmed and sworn into office, McAtee resigned. In October, the other four board nominees were sworn in as members of the board. Finally, in February 1982, Reagan issued Executive Order 12346 proclaiming

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