The RFS has bankrupted its first refinery, more to follow - NetRight Daily

The RFS has bankrupted its first refinery, more to follow - NetRight Daily:
"...In 2005, Congress passed, and President Bush signed the Energy Policy Act of 2005.
Among the many new regulations created in the legislation, the Renewable Fuel Standard (RFS) was birthed.
The RFS mandated a certain amount of renewable fuels, mostly corn ethanol, be blended with gasoline.
The amount was 4 billion gallons in 2006 with a rise to 7.5 billion in 2012.
In 2007, the Energy Independence and Security Act of 2007 was passed.
The bill increased the amount of renewable fuel to be blended.
It required 9 billion gallons be blended in 2008 with an increase to 36 billion gallons in 2022.
Of course, this made the subsidy loving corn growers extremely happy.
The federal government was now mandating citizens purchase their product. 
...When the EPA instituted the program, it believed the costs would only be a few cents per RIN.
As usual, when the federal government gets involved the costs spiraled out of control.
Wall Street speculators now routinely drive up the prices.
In one seven-month period in 2013, the value of one RIN went from 7 cents to $1.43.
The volatility is creating economic hardships for refiners across the nation and has caused the largest refinery on the east coast to declare bankruptcy..."
Read on!