“THEY are jealous,” says Terry Branstad, Iowa’s Republican governor, of those who complain that Iowa wields too much influence over national politics, thanks to its hosting of the first presidential caucuses. Every presidential candidate shakes Iowan hands and listens to Iowan concerns. Hillary Clinton came on April 14th, and will be back about ten times before January, predicts Chad Hart at Iowa State University. Mr Branstad plans to use the presidential campaign as an opportunity to promote ethanol. He will urge candidates to support the federal renewable-fuel standard (RFS), which forces oil firms to blend ethanol into vehicle fuel.
Today over 95% of petrol sold in America is blended with 10% ethanol. Iowa is America’s leading producer both of ethanol and of the corn (maize) from which it mostly derives. Nearly half the state’s corn is turned into ethanol. Iowa’s 43 ethanol plants account for nearly 30% of the nation’s production. Around 73,000 jobs in the state depend on the ethanol industry.
Ethanol producers are delighted that Americans are forced to buy their product. But not everyone else is. Oil firms grumble...
from The Economist: United States http://ift.tt/1d4yOv0
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