A bipartisan coalition of members of Congress, led by U.S. Representatives Bob Goodlatte (R-Va.) and Jim Costa (D-Calif.), heeded concerns of livestock producers that current U.S. renewable fuels policies are artificially manipulating corn prices and putting a strain on corn supplies.The lawmakers introduced the Renewable Fuels Standard (RFS) Flexibility Act of 2011, which will tie the amount of corn ethanol production required under the RFS to U.S. corn supplies.
Reps. Goodlatte and Costa stated in a letter to their colleagues in the U.S. House of Representatives that, "the federal government's creation of an artificial market for the ethanol industry has quite frankly created a domino effect that is hurting consumers. It is expected that this year about 40 percent of the U.S. corn crop will be used for ethanol production. Our legislation will alter the RFS to give relief to our livestock and food producers and consumers of these products. This is a common sense solution to make sure we have enough corn supplies to meet all of our demands."
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Posted 10/9/2011
