How Washington Could Push Gas Prices Higher
How Washington Could Push Gas Prices Higher
No politician would run for office by calling for higher gasoline prices. Yet policymakers in Washington may be on the verge of causing some pain at the pump for consumers. Most Americans don’t realize that, when they gas up their car, up to 10% of what goes into the tank is ethanol distilled from corn. Congress required refiners to blend ethanol into gasoline in laws passed in 2005 and 2007, which were intended to spur the production of renewable fuels and reduce U.S. dependence on foreign oil.
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