nyZt and CNBC get it completely backward. nyZt does not care but I hope anchors at CNBC get it corrected
Ethanol Surplus May Lift Gas Prices
Published: Saturday, 16 Mar 2013 | 12:00 AM ET
"WASHINGTON -- A glut of ethanol in the gasoline supply is threatening to push up prices at the pump and may have exacerbated the growing cost gap between regular gasoline and premium, some oil experts say".
Wow how can a delusional or ignorant explain? There is no surplus of ethanol just that it is impossible to blend more in without destroying America's cars like 10% did to all our small engines.
"On the other side of the debate are the ethanol producers, who say prices are pushed lower because their product is cheaper than gasoline. This is true on a gallon-per-gallon basis, although ethanol provides less energy per gallon."
Actually at today's prices adjusted for true value or energy content ethanol corruption is 49%+ more expensive. Details minor details I guess a 'journalist' now just does the he said she said rather than find objective facts.
"The argument over ethanol and gas prices highlights the politics of the Renewable Fuel Standard, set by a 2007 law. The ethanol lobby accuses the oil companies of ratcheting up the demand for fuel credits as a way of applying pressure on lawmakers to reduce the alternative fuel mandates. Congress could change the rules, or the Environmental Protection Agency, which set up the electronic marketplace where ethanol credits are traded, could adjust them."
Just wrong. The EPA is legally required to lower the mandates if it distorts either fuel or food markers. Congress would have to override Obama to change the corrupt law and clearly he does not want to.