The EPA will require gasoline refiners to use just 15.2 billion gallons of ethanol next year — 14% lower than the original target set by Congress.
On Tuesday, the EPA said that it would look into ways to adjust the nation's biofuels targets in the years ahead.
Amid the recent drought and rising food prices, various groups have called on the United States to suspend its rules that divert nearly half of the U.S. corn crop for ethanol fuel. But how much would this actually help? A new study from Purdue finds that even a partial relaxation of the rules could reduce prices by up to 25 percent. But, as always, it's complicated.