What’s Really Behind The Ethanol Crisis?

If you ask politicians in the corn belt, or those who produce corn or ethanol, they know exactly where to place the blame for their recent troubles: The oil industry. To recap, the Renewable Fuel Standard (RFS) established quotas of renewable fuels that have to be blended into the fuel supply, and an enforcement mechanism to ensure those quotas were met. In short, refiners have to blend biofuels (predominantly corn ethanol) or pay a price. However, there is a hardship clause that is meant to protect small refiners that process less than 75,000…