Despite overwhelming evidence that the ethanol mandate is a failed policy, in 2014 the ethanol lobby continued to prove they are divorced from reality by declaring the Renewable Fuel Standard (RFS) an “unmitigated success.”
While ethanol producers are bringing in record profits, dairy and poultry farmers have been forced to close up shop, unable to afford feed for animals.
The Renewable Fuel Standard (RFS) was intended to raise the price of corn crops. And it has — to the point that despite trading at three year lows, the price for corn is still far above the pre-mandate price — which is causing problems for the rest of our agriculture industry.
Yesterday, the head of the ethanol lobby Bob Dinneen testified in front of the House Energy and Commerce Committee on the Renewable Fuel Standard. Dineen admits that ethanol mandates were intended to raise the price of corn, costing consumers but lining corn growers' pockets.
In a House of Representatives Energy and Commerce committee hearing on July 23 on the Renewable Fuel Standard, representatives of the Ethanol Lobby said that cellulosic biofuels are “just around the corner.” RFA’s President and CEO Bob Dinneen has been saying this for years:
The way to bring down gas prices is less government interference, not more.
The Renewable Fuels Association has asked Washington to revisit biofuels targets set by the Renewable Fuel Standard (RFS). In a letter to the Environmental Protection Agency (EPA), the RFA recommends a “reduction in the overall RFS” citing “uncertainty” over how to meet the mandated goals.