Congress To Push Ethanol Production
A bill in congress, with bipartisan support, will look to increase Ethanol production in the U.S. to six times its current levels. This despite the fact that the diverting of corn into Ethanol production is already driving food prices higher at a rate faster than inflation.
The bill, if passed, would seek to increase Ethanol production to 36 billion gallons. That is six times the production capacity of the existing refinery infrastructure.
Every cloud has a silver lining, this one included. The Ethanol mandate is part of a broader energy bill that will seek to raise fuel efficiency standards.
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