The Renewable Fuel Standard (RFS) mandates that a huge portion of the US corn crop be turned into ethanol and blended with the gasoline that powers our cars.
This keeps the prices of gasoline and corn artificially high and wastes energy, because the energy contained in the natural gas used to make ethanol is much less than the energy in the ethanol that is produced.
The RFS was made by G.W. Bush, but the Environmental Protection Administration (EPA) under Obama has continued the policy. Why?
It makes no sense. It's a wasteful subsidy for corn farmers and makes gasoline even more expensive.
If US agriculture makes too much corn, the price should drop and less acres should be planted.
But Obama's EPA prefers to set fire to the extra corn (and our money). Stop it now!