Latest posts by James H. Rust (see all)
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The London-based newsletter Oil & Energy Insider posted on their April 12 issue information about a new bill being considered in Congress to overturn some of the most damaging parts of the 2007 Energy Security and Independence Act.
These parts involve the mandate to mix ethanol from corn with gasoline in ever increasing amounts from the twelve billion gallons today to 36 billion gallons of ethanol by 2022. The newsletter portions dealing with ethanol mandates follows:
While all of this is going on, the controversial ethanol mandate is coming under increasing attack. On Wednesday, four US Congressmen — two republicans and two democrats — proposed legislation to ease the ethanol mandate in what they said was a move to protect consumers, energy producers, livestock producers, food manufacturers, retailers and the US economy at large.
The legislation, the Renewable Fuel Standard Reform Act, would reverse the biofuels mandate as of 2014 and rescind the requirements of blending up to 15 percent ethanol in the fuel supply. It would also prohibit corn-based ethanol from being used to meet renewable fuel standards.
The legislation is gaining wider support, with a coalition of 13 food groups jumping on the bandwagon over what they fear will be increases in food prices.
Advocates of the ethanol mandate accuse the oil industry is secretly being behind the new legislation in an attempt to eliminate biofuels as a competing force.