freedomworks (Diary) |
Somber news came out of AAA this week: the nationwide average price per gallon for gasoline has been above $3.00 for over 1,000 days straight. This is a new and unprecedented record and undoubtedly one of the unsung reasons why the national economy continues to flounder in what the Obama Administration embarrassingly champions as a recovery.
The implications of this unsavory distinction are obvious to average American business owners and families that are stuck holding bigger bills for everything from groceries to utilities. Yet, apparently, some members of Congress think almost 3 years of record high prices for a commodity as essential as gasoline just isn’t enough.
The issue at hand is the Renewable Fuels Standard, or RFS. This law forces Americans to buy increasing amounts of ethanol and other biofuels that the government demands refineries to blend into the national fuel supply. The problem is that the amount of ethanol required by the government to be mixed into the fuel supply no longer matches up with the 2007 forecast of fuel consumption in the United States. The economic downturn and new efficiency standards from the EPA are causing Americans to use less gasoline. Yet the rigid standards set out by RFS are still demanding that the same arbitrary amount of ethanol be blended regardless of the fact that fuel blends with higher ethanol content can damage engines and don’t work with the infrastructure in place at the overwhelming majority of the nation’s fuel stations.....To Read More.....