Obama administration looking at ethanol rules

The Obama administration is reviewing the country’s ethanol policy amid calls from both political parties and the United Nations to suspend annual targets as the worst drought in 56 years spurs corn prices. Twenty-five U.S. senators, both Republicans and Democrats, asked Lisa Jackson, administrator of the Environmental Protection Agency, to halt or lower mandates on how much ethanol the country must use this year and next. The senators’ Aug. 7 letter followed an Aug. 1 petition from a bipartisan coalition of 156 members of the House of Representatives. "I would simply say that the EPA, in consultation with the Department of Agriculture, is looking at this," Jay Carney, the White House press secretary, said today in Washington. "I don’t have a statement one way or the other predicting what the experts are going to say." Read More