Joe Biden Moves to Boost Ethanol Production Even as Corn Prices Spike

President Joe Biden will announce his decision to lift Environmental Protection Agency regulations on E-15 ethanol on Tuesday, allowing it to be sold during the summer.

The president is scheduled to travel to an ethanol plant in Iowa for the announcement even as corn prices have jumped in anticipation of a shortage in reaction to Russia’s escalation of their war in Ukraine.

The price of corn has spiked from a low of $3.08 a bushel in August 2020 to $7.69 in April 2022.

The European Union imports more than half of its corn from Ukraine and is already buying more American corn.

But Biden will talk about using more American corn as fuel for vehicles could help reduce gas prices. – READ MORE

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