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Author: tjscott0 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 737246  
Subject: Bipartisanship on Ethanol Date: 1/6/2014 11:23 AM
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Farmers lobbyists ain't gonna like this.


http://www.businessweek.com/articles/2014-01-06/u-dot-s-dot-...

A few weeks ago, Democratic Senator Diane Feinstein of California and Republican Senator Tom Coburn of Oklahoma introduced legislation to free the fuel industry from requirements to blend their gasoline with ethanol made from corn.

Although ethanol is more expensive to produce than regular gasoline, the biggest problems with the mandates aren’t higher prices at the pump. The biofuels regulations result in higher food prices, and their impact on the environment is at best slightly positive and could be negative. Almost completely because of the EU and U.S. mandates, global ethanol consumption quintupled in the first decade of the 21st century. About 40 percent of the U.S. corn crop goes into ethanol, while in Europe biodiesel consumes two-thirds of oilseed production. Those are crops and cropland that could be used to produce food for human consumption.
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