Iowa farmers really want Vice President Joe Biden to run. But not necessarily because they’re eager to vote for him.
Instead, at a time that ethanol’s kind of a hard sell, growers of corn and other crops used to make biofuels believe a Biden run would provide them a critical bit of leverage right when they need it. At the moment, the Obama administration is previewing next year’s rules for the amount of ethanol that has to be mixed with gasoline -- a regulation that has fueled the ethanol industry and earned untold millions for corn growers.
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Unfortunately for the farmers, the Environmental Protection Agency has proposed reducing the ethanol requirement below the level mandated by law. Coincidentally, the agency is set to finalize that regulation in November -– right when the Iowa political season starts to heat up in earnest before the caucuses in January. And the people who care about this Renewable Fuel Standard are disproportionately in Iowa.