May 24, 2022

Biden to scrap green fuel rules to slow increasing gas prices

President Joe Biden is likely expected to announce a pause on his environmental rules that would regulate the gasoline mix.

According to a report by The Daily Caller, the White House announced on Tuesday that the pause was meant to help gas prices decrease in their upward trajectory.

“Biden is set to announce that the Environmental Protection Agency (EPA) will allow energy providers to supply gas stations with 15% ethanol blend fuel throughout the summer, during an event in Menlo, Iowa, on Tuesday, according to a White House fact sheet,” the Daily Caller reported.

“Gasoline with 15% ethanol — which has been banned for a decade under the Clean Air Act — will be allowed between June 1 and Sept. 15 as a result of Biden’s action.”

This announcement comes as harsh backlash from Republicans, and even some Democrats put pressure on the White House to take responsibility for the skyrocketing prices.

“The President is committed to doing everything he can to address the pain Americans are feeling at the pump as a result of Putin’s Price Hike,” the White House said.

“The Administration’s strategy to spur the development of homegrown biofuels is critical to expanding Americans’ options for affordable fuel in the short-term and to building real energy independence in the long-term by reducing our reliance on fossil fuels.”

Industry groups are suggesting that the EPA rules limiting the amount of ethanol, which is a corn-based chemical, aren’t really focusing on the root of the issue of gas prices. There is also concern that it could increase food shortages, as it would likely cause an uptick in corn demand.

“We’re concerned that the administration is not focused on the real structural problems here and is attempting to find short-term fixes that don’t get at the heart of the issue,” American Petroleum Institute’s senior vice president of policy, economics, and regulatory affairs Frank Macchiarola told the WSJ.

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