WASHINGTON (Reuters) - Two U.S. lawmakers are seeking to dilute the requirement to blend increasing amounts of ethanol into the nation's motor fuel mix to alleviate upward pressure on food and animal feed prices when corn supplies are short.
Under a bill to be introduced by Bob Goodlatte and Jim Costa on Wednesday, Congress would reduce the mandate for ethanol whenever stocks of corn, used to make the biofuel, are tight.
"The federal government's creation of an artificial market for the ethanol industry has quite frankly created a domino effect that is hurting consumers," the Congressmen said.