Newsletter subscribe

Friends

Trump Hits Motorists with Ethanol Costs

Posted: October 26, 2017 at 6:21 am   /   by
Originally published on this site

The Trump administration acquiesced to the ethanol lobby in a recent decision on the costly Renewable Fuel Standard (RFS), says the Wall Street Journal. Under a Bush-era 2007 law, the mandated amount of biofuels in your gas tank is increasing, which puts upward pressure on gas and food prices and likely harms the environment.

Rather than supporting repeal of the anti-environmental RFS, the EPA announced it “won’t reduce its proposed 19.24 gallon biofuels quota for 2018, and many even increase it,” said the WSJ. Sadly, the administration “caved under pressure from the ethanol lobby and political extortion from Republican Senators Joni Ernst, Deb Fischer, and Chuck Grassley.”

At DownsizingGovernment.org, Nicholas Loris explains how the RFS harms consumers, damages the economy, and produces negative environmental effects. The RFS is also a bureaucratic nightmare, and has spawned a complex credit-trading system, which investor Carl Icahn said is a “$15 billion market full of manipulation, speculation and fraud.”

Loris notes that ethanol has only two-thirds the energy content of regular gas, so drivers get fewer miles per gallon the higher the share of ethanol and other biofuels mixed into their tanks.

So the next time you are pumping gas and see that “10% Ethanol” sticker, remember it’s a Big Government swindle perpetrated by the GOP.

For more on ethanol, see here.

Downsizing Government

The federal government is running huge budget deficits, spending too much, and heading toward a financial crisis. Without a change of direction in Washington, average working families will be faced with large tax increases and a lower standard of living.

This website is designed to help policymakers and the public understand where federal spending goes and how to reform each government department. It describes the failings of agencies and identifies specific programs to cut. And it discusses the systematic reasons why government programs are often obsolete, mismanaged, or otherwise dysfunctional.

Some people have lofty visions about how government spending can help society. But this website puts aside the “bedtime stories” about how programs are supposed to work, and instead focuses on how they actually work in the real world. Economist Milton Friedman said that “one of the great mistakes is to judge policies and programs by their intentions rather than their results.”

Downsizing the Federal Government is a project of the Cato Institute. Scholars at Cato believe that cutting the federal budget would enhance personal freedom, increase prosperity, and leave a positive fiscal legacy to the next generation.

For information on the data sources for the charts on this site, see here.


Please contact Chris Edwards with any questions or comments, [email protected].

Latest posts by Downsizing Government (see all)

Originally posted at https://www.downsizinggovernment.org/trump-hits-motorists-ethanol-costs.

Leave a comment

Trump Hits Motorists with Ethanol Costs