biofuel

Ah, the Renewable Fuel Standard. What can I say about the Renewable Fuel Standard, which requires fuel producers to blend a certain amount of biofuels into their product? That its existence inflates an artificial market for a product consumers don’t really want to buy? That its corn-based components drive up food prices at home and in third-world countries? That on net evaluation it’s harmful to the environment and brings marginal lands into production (and that everyone’s been well aware of the fact for years)? That it enjoys an entrenched political position because of powerful ethanol/agribusiness lobbying? Yep, I can definitely say all of those things.

The EPA has roundly refused to abandon the exercise in economic and environmental folly that is the RFS, and ergo some members of Congress are looking to take the matter into their own hands — on a bipartisan basis, no less.