U.S. will fall short of ethanol, biofuels targets under Renewable Fuel Standard

The federal Renewable Fuel Standard will fall far short of the goals laid out by Congress, government watchdogs said Monday, dealing another blow to  the embattled program and giving more ammunition to critics who say it must be ended immediately. Government Accountability Office reports say the Renewable Fuel Standard, enacted by lawmakers in 2007, has been crippled by higher-than-expected costs of producing ethanol and other biofuels and by the boom in U.S. oil and gas production, which has made fossil fuels far more competitive in the marketplace. The program, which requires increasing amounts of ethanol and other biofuels to be blended into the nation’s gas supply each year, also will fail to deliver the kinds of reductions in greenhouse gas emissions envisioned a decade ago, the GAO said. Taken together, the two conclusions raise doubts about the future of the Renewable Fuel Standard and support critics’ contention that the program is forcing the use of fuels that are too expensive and incompatible with many of today’s vehicles and infrastructure.