Ethanol fuel was a forced government intervention. Thus, it is very subject to changing political winds.
CNN May 5
The GOP senators, citing U.S. Department of Agriculture figures, said up to 30 percent of the U.S. corn crop could be diverted to fuel production this year. One of those who opposed the bill -- and a co-signer of Monday's letter -- said the ethanol mandates are now widely considered a "policy blunder" that Congress should roll back.
John McCain Monday joined other GOP senators urging environmental regulators to ease rules demanding a sharp increase in ethanol use to help head off further increases in food prices. The energy bill that passed Congress with bipartisan support in 2007 requires U.S. fuel marketers to increase the use of biofuels fivefold by 2022. McCain and 23 other Republicans, including many who supported the bill, called on the Environmental Protection Agency to waive or roll back the law's requirements in order to ease pressure on food and livestock feed prices.
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