The results of the Iowa caucus proved even Iowans—long seen as fervent proponents of ethanol—don’t view Washington’s favoritism to it as necessarily still required.
Much like many campaigns out there, the Renewable Fuel Standard that mandates the use of biofuels in our gasoline, has been full of empty promises. When Congress passed the Renewable Fuel Standard in 2005 and expanded the mandate in 2007, policymakers promised reduced dependence on foreign oil, a new source of cleaner energy to lower gas prices, a stronger economy and an improved environment.
This was certainly wishful thinking, as none of it has come true.
Instead, the policy has resulted in adverse effects to the economy and the environment and demonstrated the folly of the government attempting to centrally plan America’s energy future.
No comments:
Post a Comment