By James M. Griffin and Mauricio Cifuentes Soto
The Energy Independence and Security Act of 2007 (EISA) mandated a steep rise in domestic ethanol production. The goals were to ease dependency on imported petroleum, cut greenhouse gas emissions and reduce fuel costs to motorists. EISA mandated ethanol production to grow from 4.9 billion gallons in 2006 to 36 billion gallons by 2022. Today, at 14 billion gallons, we're not even half-way there. The unintended consequences of the policy, especially those influencing world food prices, far outweigh the intended benefits.