CARD, Energy Policy Research Foundation battle over ethanol's gas price impact

In Washington and in Iowa, two competing studies looking at the economics behind ethanol blending are painting very different pictures. A study by the Center for Agricultural and Rural Development (CARD) at Iowa State University funded by the Renewable Fuels Association says ethanol blending has lowered pump prices by 25 cents per gallon on average for the past 10 years but as much as $1.37 in some markets. A report by Energy Policy Research Foundation Inc. paid for by oil companies says that gas prices have gone up as a result of ethanol blending.