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[Illustrations, footnotes and references available in PDF version]

In the next few weeks, the Environmental Protection Agency is expected to rule on a proposal to increase from 10 percent to 15 percent the amount of ethanol that may be blended into gasoline. If the EPA approves the move, the U.S. motor-fuel market would yet again become the victim of misguided federal intervention. Since the 1970s, Congress has justified subsidies to the corn ethanol industry with the oft-repeated claim that boosting domestic production of ethanol will increase America's energy security by reducing U.S. oil imports. That claim has no basis in fact.

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