With an ever-increasing amount of U.S. ethanol bound for foreign shores, controversy is mounting over the blender’s tax credit and its use by exporters. Set to expire at the end of 2010, the blenders’ tax credit will play a major role in the ethanol debate.

U.S. ethanol exports typically go to Canada, the Netherlands, the U.A.E., the U.K., and Saudi Arabia.

To read more about the ethanol export dispute, see Gregory Meyer’s article in the Financial Times.