Govs. Mike Beebe (Ark.) and Beverly Perdue (N.C.) have become the third and fourth governors to urge Environmental Protection Agency (EPA) Administrator Lisa Jackson to use her existing waiver authority as soon as possible to adjust the corn-ethanol mandate for the Renewable Fuel Standard (RFS). Last week, Govs. Martin O'Malley (Md.) and Jack Markell (Del.) issued similar appeals to the EPA.
The governors' letters join appeals by 156 U.S. House members, 34 U.S. senators, a large coalition of livestock, poultry, meat, dairy and feed organizations and the United Nations in favor of granting the RFS waiver.
Last week's crop report released by the U.S. Department of Agriculture shows U.S. corn supplies for 2012-2013 will hit a nine-year low due to the nation's record-breaking drought and other factors, which will drive record corn prices even higher. Corn is projected at a record $7.50 to $8.90 per bushel, up sharply from the $5.40 to $6.40 per bushel projected in July.