A report commissioned by the American Petroleum Institute that predicted the Renewable Fuel Standard would lead to higher fuel prices and $770 billion in lost GDP drew a quick reaction from ethanol producers who said the study's aim was to attack federal efforts to cut fossil fuel use, FuelFix reports.
Taking on anew an oil industry that boasts it has created significant job gains, President Barack Obama on Friday pledged a long-term commitment to move the U.S. auto fleet away from oil in a bid to end consumer pain at the pump.
"The only way to really break this cycle of spiking gas prices, the only way to break that cycle for good, is to shift our cars entirely, our cars and trucks, off oil," he said during a 19-minute energy policy speech at Argonne National Laboratory near Chicago.
The House Energy and Commerce and Senate Energy and Natural Resources committees are making separate moves to analyze the links between ethanol credits and rising gasoline prices, The Wall Street Journal reports.
WASHINGTON (AP) — A measure of U.S. wholesale prices rose in February by the most in five months, pushed higher by more expensive gas and pharmaceuticals. But outside those increases, inflation was mild.
Senate Energy and Natural Resources Chairman Ron Wyden, D-Ore., called on the Energy Information Administration to release data on gasoline prices to explain the recent surge in prices, The Hill reports.
Senate Energy and Natural Resources Committee Chairman Ron Wyden said he would hold a hearing on rising gasoline prices, contending there is "no reasonable explanation" for the recent surge, The Hill reports.
Sen. Lamar Alexander, R-Tenn., pledged to push a vote to complete the Yucca Mountain nuclear waste facility in Nevada if Senate Majority Leader Harry Reid, D-Nev., moves to limit filibusters, Roll Call reports.