How do you cool down the overheated US economy?

new York Two huge John Deere tractors frame the America flag raised behind Joe Biden. The US President has come to Menlo, in the agricultural state of Iowa, to inaugurate a new biofuel plant here, 45 miles from the capital Des Moines.

“Biofuels are going to play a huge role now,” he tells the audience. Biden hopes not only to protect the environment, but also to alleviate one of his most pressing problems: the high price of gasoline.

An emergency measure by the environmental agency EPA should allow the ethanol-containing petrol E15 to be sold again in the future. The higher smog that can result from this is suddenly of secondary importance.

He’s sure to get applause for that. Because that means motorists, like the farmers Biden is speaking to, can fill up their vehicles more cheaply.