September 14, 2015 – Here is a clear illustration of why price manipulation hurts the economy: The state of California has steadily increased employment in the hotel and accommodation industries since 2010.
This rise in employment has been seen in LA pretty much on par with the rest of the state. But since July 1, 2014, there has been a sharp and drastic divergence in the employment of hotel staff- with the only variable being geographic.
Refiners blame Congress, arguing that the ethanol quota was set at a time when gasoline demand was expected to rise steadily.
Instead, demand has declined, and refiners, obligated to blend more ethanol than they can actually use, have resorted to buying a lot of ethanol credits, known as renewable identification numbers (or RINs), to meet the mandated levels.
But refiners argue that some cannot reach that requirement because they are nearing or at the so-called blend wall, the maximum percentage of ethanol in gasoline that most gas stations can handle, 10 percent.