Governor Rick Perry of Texas, representing a major livestock-producing state hammered by rising feed costs, has petitioned the Environmental Policy Agency to suspend half of the mandated level for blending ethanol in gasoline. The EPA has the authority under the Energy Independence and Security Act of 2007 to suspend all or part of the mandate for up to a year if there is a "significant renewable feedstock disruption or other market circumstance" and the administrator is supposed to respond to Governor Perry's petition by July 24. Surely the current food price crisis, exacerbated by this spring's flooding along the Mississippi, qualifies as a significant disruption.
If the administration and Congress do not revisit the ethanol mandate, it will rise from this year's 9...