This week in the media, the Environmental Protection Agency finally agreed to issue ethanol blending requirements for 2014 and 2015… two years late after having missed multiple deadlines. Meanwhile, Hillary Clinton announced her candidacy for President and made Iowa, home of the ethanol barons, the first stop on her campaign trail causing speculation about her position on the Renewable Fuel Standard, a law that she opposed while serving in the Senate. Also this week, a former economic advisor to President Barack Obama added his voice to the growing chorus of people publicly acknowledging that the Renewable Fuel Standard is badly broken and in need of an overhaul.
In Short: A lawsuit filed against the EPA for its delays prompted the government agency to schedule an announcement for the ethanol blending requirements for 2014 and 2015 this November, two years late for the 2014 rule and one year late for 2015. Critics of the law said the EPA’s failings expose a flawed program that is difficult to implement.
In Short: During her early years in the US Senate, Clinton was a staunch opponent of the corn ethanol mandate calling it “an astonishing new anti-consumer government mandate,” but campaigning in the heart of Big Ethanol money country can have interesting side effects. Clinton flip-flopped on the issue during her first run for the presidency. No word yet on how what her stance will be this time around, but speculation is rampant.
In Short: Former White House economic advisor Jim Stock calls for an overhaul to the Renewable Fuel Standard (RFS) “adding a key voice to a growing chorus of people who say the policy is not working.” Mr. Stock said the RFS has “a deserved bad name because of the very large costs associated with it.”