Study: Ethanol requirement costs Maine millions
The federal requirement to blend ethanol with gasoline has caused Maine to lose millions of dollars to corn-growing states in the Midwest, according to a study released Monday by a coalition of business and environmental groups.
The study from the Center for Regulatory Solutions says that between 2005 — when the Renewable Fuel Standard was implemented and began requiring certain amounts of ethanol in gasoline — and 2024, the federal requirement will cost Maine about $1.9 billion in higher fuel prices.
The New Hampshire Union Leader reported that the study is part of an anti-ethanol push as the EPA approaches a Nov. 30 deadline for deciding the future of the corn-based fuel. Ethanol was introduced as a gasoline additive in 2005 in the hope that it would reduce carbon emissions and ease the country’s reliance on imported oil, according to the Union Leader.
The report also says that Maine dairy farmers spent an estimated $10.5 million on feed in 2012 due to the increased price of corn.
“Higher fuel prices, more expensive agricultural and farming inputs and upward pressure on food prices have negatively affected New England’s economy while benefiting the ethanol industry in the handful of corn states,” the report states.
Mainebiz web partners
Most Recent
Most Recent
Comments