Corn ethanol is forcing its way into the marketplace and is likely increasing greenhouse gas emissions, according to the National Academy of Sciences. In fact, corn-based ethanol nearly doubles GHG emissions over 30 years and increases greenhouse gases for 167 years.
A Congress Blog post explained how the RFS effectively established corn ethanol as the “practical” fuel of choice for RFS compliance, and then proceeded to slam those who coped with the policy as best they could by making that very choice.
Since RFS’ inception, corn demand has continued to increase as fuel producers are forced to adhere to the policy. And as fuel and food producers vie for corn supply—even amid drought conditions—grain costs have risen an astronomical 275 percent since the policy was implemented.
By 2017, combined U.S. and Canadian imports will be less than three million barrels a day of crude oil – half of current levels. But all this good news begs the question: why are gas prices still so high?
In the past six years, skyrocketing costs have forced at least a dozen poultry companies to stop operations, file for bankruptcy or sell off assets, in some cases to foreign competitors.
The RFS has set off a multi-billion-dollar chain reaction throughout the U.S. economy that heaps additional food and commodity costs on farmers, food manufacturers, chain restaurants, food retailers and, ultimately, American consumers and families.
As prices at the pump climbed over the previous decade, biofuel proponents lobbied to replace oil with home-grown biofuels. Some major environmental organizations — enthralled by the prospect of growing energy instead of drilling for it — threw their weight behind the effort.
A Government Accountability Office report calls for the Energy Department to institute an oversight program to evaluate water availability and use by energy producers. It notes the Energy Policy Act of 2005 required the department to implement a similar program, but has so far failed to do so.