This is honest reporting. Many sites on the right do nothing but promote everything Trump. I as well support the President’s policies, but when he makes a wrong decision, he should be called out. This is one of those times and it’s important to point it out.
This is one campaign promise we wish President Trump would break. But alas, he just told his EPA to give up any thought of cutting back on the federal government’s anti-consumer, anti-environment ethanol mandate. Sad.
The story begins in 2005, when President Bush approved the Renewable Fuel Standard program as part of an energy bill, which required oil refiners to blend in predetermined amounts of “biofuels” into their gasoline, starting at 4 billion gallons in 2006.
A revised version of the RFS, which Bush signed in 2007, expanding the program, requiring ethanol levels to climb steadily to 36 billion gallons by 2022.
The argument at the time was that forcing ethanol into the market — which is mainly derived from corn — would cut energy imports, improve energy security, reduce pollution, lower fuel costs and create jobs.
Even if those reasons were sufficient at the time to justify this heavy-handed government intervention in the energy market — and we don’t think they were — today’s energy picture makes the ethanol mandate entirely obsolete.
Thanks to the fracking revolution, the U.S. is now awash in domestic supplies of oil and natural gas. Oil prices have dropped and net imports are lower than they’ve been in more than 30 years. The U.S. could become a net exporter of oil within a decade.
So the idea that replacing some oil with ethanol is vital to national security or stable energy prices is a relic of a bygone era.