Economist Urbanchuk says ethanol helping to keep price of gas down
While the corn ethanol industry continues to face heat for contributing to rising food prices, could it be helping to keep oil prices down? During today's OnPoint, John Urbanchuk, an economist and director of the Agriculture and Biofuels Practice at the global consulting firm LECG, LLC, explains why he believes the addition of ethanol in gasoline is having a significant impact on the price at the pump. Urbanchuk gives his short-term outlook for energy and food prices and discusses the impact an RFS waiver would have on food and corn prices. He also explains why he believes removing, or decreasing the ethanol import tariff could be damaging to U.S. industry.