Posted by
Good2cu on Monday, June 23, 2008 1:10:31 PM
The Energy Policy Act of 2005 mandated that 7.5 billion gallons of gas come from ethanol by 2012. Harry Reid's '07 Consumer Protection and Energy Efficiency Act of 2007 bumps this number to 36 billion by 2022. The theory is that this would ease some of the demand on gasoline and bring prices down. Higher ethanol demand has not only failed to bring down gas prices, which are up 60% since September '07, but have pushed corn prices up over 300%. This has caused everything from cereal to tortillas to skyrocket in price.
When talking about the failed energy policies of the past, perhaps the good senator from Illionois should reexamine his '05 vote and his support of ethanol.