John T. Barone, president and commodities analyst for Market Vision Inc.
Since 2007, the Renewable Fuel Standard has mandated that we produce and use certain amounts of renewable biofuels. Up until this year, refiners have been able to hit those mandates by blending corn-based ethanol into gasoline at a ratio of 90 percent gasoline, 10 percent ethanol. However, since the mandates were established in 2007, an economic downturn, high gas prices and more fuel-efficient cars have all contributed to a previously unexpected decline in gasoline usage. As a result, in ...
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