Dr. Jim Griffin’s Article on Ethanol Policy Published in The Energy Journal
The Energy Journal published Dr. Jim Griffin’s article entitled, “U.S. Ethanol Policy: Time to Reconsider?” The Energy Journal is the official quarterly peer-review journal of the International Association for Energy Economics.
Dr. Griffin’s paper examines both the intended an unintended consequences of current U.S. ethanol policy. Originally, the 2007 legislation was intended to benefit consumers with lower gasoline prices, to reduce carbon emissions, and to promote oil security by displacing imported oil with domestically produced ethanol. While well-intentioned, the realized benefits have been minimal to consumers, the environment, and oil security. Alternatively, the unintended consequences on corn and other food commodity prices are having severe repercussions particularly in developing countries where consumers have more limited substitution possibilities. The extreme drought of 2012 illustrated the folly of mandating fixed quantities of ethanol use in gasoline, while allowing the residual to be left for food uses. It is time to reconsider and rescind the ethanol mandates.
“U.S. Ethanol Policy: Time to Reconsider?” The Energy Journal Vol. 34, No. 4 (2013): 1 – 23. http://dx.doi.org/10.5547/01956574.34.4