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Pawlenty says 'no' to ethanol subsidies — while in Iowa

Conventional wisdom says that presidential candidates can't win in corn-rich Iowa without supporting ethanol subsidies. But while announcing in Iowa Monday that he is running for president, former Minnesota Gov. Tim Pawlenty said that "the truth about federal energy subsidies, including federal subsidies for ethanol, is that they have to be phased out." That impressed the Wall Street Journal editorial board, which lauded Pawlenty for passing "an early test of fortitude." But how will he fare in the Iowa caucuses?

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