King Corn: Will the Renewable Fuel Standard Eventually End Corn Ethanol's Reign?

In 2007, Congress adopted a new Renewable Fuel Standard (RFSII) to require new renewable fuels to meet greenhouse gas emissions requirements. However, RFSII exempted existing corn ethanol production facilities from meeting these emissions requirements. As a result, corn ethanol producers may continue to produce more than 15 billion gallons of corn ethanol annually, despite the harmful impacts corn ethanol has had and likely will have on water quality, food availability, and climate change. This paper explores the implications of RFSII and argues that its grandfathering of existing corn ethanol undermines the overall goal of the country's renewable fuel standard.