The Obama administration wants to reduce the amount of ethanol in the nation's fuel supply, acknowledging the biofuel law championed by both parties in 2007 is not working as well as expected.
The new proposal announced Friday is unlikely to mean much for consumers at the pump. It could, however, cut into farmers' profits for corn, the primary ethanol source.
The change would require almost 3 billion fewer gallons of biofuel to be blended into gasoline in 2014 than the law mandates.
Source: AP. Read full article. (link)