The Wall Street Journal had a piece titled Biofuel Mandates Are a Bad Idea Whose Time May Be Up that centered on the possibility that these might get watered down, or even eliminated, sometime “soon.”
The Renewable Fuel Standard, which forces oil refiners to mix corn-based fuel into gasoline, is one of history’s great policy boondoggles.
Well, NSS. The only things it’s done of practical consequence have been to serve as a backdoor subsidy for farmers and to drive up the cost of corn, corn substitutes, and food that eats corn. And to drive up the cost of gasoline and to create ethanol fuel-related automobile engine maintenance costs.
But that’s the problem with Government mandates in general when they’re intended to create a market for a particular product.
As a mandate, the time for this one on biofuels never was.