Commodities
Lankford Slams Senate Ethanol Mandate Push
Oklahoma Senator James Lankford is continuing his fight against mandating more ethanol at U.S. gas pumps, a battle he's been waging for years.
The Senator has expressed concerns that increasing the amount of ethanol made from corn and soybeans would lead to higher fuel prices for consumers, with each gallon costing around $0.35 in ethanol tax.
Lankford argues that conventional biofuel requirements under the Renewable Fuel Standard are 'unrealistic' and no longer need federal market jumpstarting, citing a 2007 law that requires energy refiners to increase the amount of ethanol required to blend into gasoline.