Anticarbon central planning was bound to distort markets, but it turns out that the planners often increase emissions as they try to engineer President Obama's "new energy economy."
We can’t have a conversation about greenhouse gas emissions and the environment without first addressing the Renewable Fuel Standard (RFS). Why? Because not only is the current generation of biofuels failing to deliver promised environmental benefits, it’s actually working against those goals.
The problem is that EPA cannot forecast the amount of cellulosic ethanol correctly—or even closely. Further, EPA is likely to order an increased amount be purchased regardless of past failures in the hope that their mandated levels will mysteriously appear in the U.S. market.