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Stop Driving Your Food

October 14th, 2013 - 5:15 am

Relief in sight for gas prices? Maybe:

Federal environmental regulators are expected to significantly reduce their biofuel blending mandates for next year, marking a historic retreat from an ambitious 2007 law, according to industry and trade sources.

The U.S. Environmental Protection Agency (EPA) is considering a proposal that would set next year’s target for use of renewable fuels at 15.21 billion gallons, less than the 18.15-billion gallon 2014 target established in the law, according to the sources, who said the new figures have circulated in Washington policy circles over the past week.

At 15.21 billion gallons, the proposal would leave room only for some 13 billion gallons of corn-based ethanol to be blended into the nation’s gasoline supply – down from 13.8 billion this year and 14.4 billion required by law for 2014.

Speculation and media reports about the potential reduction in the blending levels ripped through financial markets on Thursday, spurring a major rally in the shares of independent refiners who have been paying hundreds of millions of dollars to buy ethanol credits to cover their blending obligations.

Last I’d read, those ethanol credits are adding a dollar to the price of every gallon of gas you buy. This was never about protecting the environment; it was always about lining the right pockets.

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All Comments   (4)
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Not that I'd be sorry to see the ethanol mandates go away, but shouldn't that come from Congress? The mandates are law.

Hahahahahaha...sorry. For a minute there, I forgot we've been fundamentally transformed.

49 weeks ago
49 weeks ago Link To Comment
You are enjoying the fundamental transformations, yes, comrade?
49 weeks ago
49 weeks ago Link To Comment
Wait a minute, though. Bureaucratic sanity? In this administration?

Watch the hand, not the toy.
49 weeks ago
49 weeks ago Link To Comment
It looks like the EPA is starting to feel the heat. They want to continue to get funding when in the face of calls in the House to reduce or even eliminate funding for the agency due to their PC green Jihad.
49 weeks ago
49 weeks ago Link To Comment
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