World biofuel production is stagnating….In the US, which produces 60 per cent of the world’s ethanol, optimistic mandates emanating from Washington are crashing into a post-financial crisis reality of weak petrol demand and emptier roads.
The US ethanol lobby has asked Washington to put the brakes on government biofuels targets, in an acknowledgment of a widening gap between policy goals and reality at petrol stations….This was the first time the association recommended cutting the total renewable fuel mandate, the association confirmed. “We’re trying to be reasonable,” Bob Dinneen, president, told the Financial Times.
If you’re keeping score at home, that means that we’ve nearly reached a unanimous consensus that the ethanol mandate is in dire need of reform. As it happens, a bill was introduced in Congress last week to do just that. Let’s hope it wends its way quickly through the legislative maze.[Corn image courtesy of Shutterstock]