DALLAS, Texas—President Trump frequently boasts of his success in rolling back costly and harmful regulations. Let’s hope that effort includes the Renewable Fuel Standard (RFS).
The RFS is the latest phase in Congress’s decades-long support for the ethanol industry. The problem is that support has outlived its usefulness.
When U.S. crude oil production began to decline in the mid-1970s and middle-eastern countries began restricting oil exports to punish the U.S. for its pro-Israel policies, Congress decided to act.