Something like 94 million acres were planted in corn this year. Corn acres had been in constant decline before the ethanol fuel expansion, and likely would have been 70 million acres or less. Ethanol makers have drastically cut production and there’s no impediment to importing cheaper foreign ethanol.
Opposing an ethanol mandate is one thing, trashing people for trying to thrive by the rules our elected representatives established is quite another.
Corn is currently about 14 cents per pound. 6 months ago it was 10 to 11 cents per pound. Corn flakes should only be 3 cents higher than 6 months ago for the amount of corn in the 1 pound box. The price of corn should have had no effect on beef as of yet and in fact beef should cheapen somewhat because of the drought and more animals going to market. Ethanol also produces a by-product feed for animal consumption, thus maintaining the feed supply for beef animals.
I must disagree. Those who claim to value small government and capitalism, but disavow themselves of said principles for every illicit opportunity tossed to them as an incentive for re-election by their representatives are scum. Just because they claim, "But I'm just playing by the rules," doesn't change anything, it is why we are where we are today in terms of creeping socialism and encroaching big government. And yes, I feel the same way about all government subsidies and tax deductions designed to encourage immoral or irresponsible behavior. In this case it is both immoral and irresponislbe; immoral because it gives an unfair advantage to an industry that could not exist under ordinary market conditions, raising the cost of food for the masses at the expense of a few greedy farmers and processors. Irresponsible because of the effects on food prices and the damage done to our small engines, and other unintended consequences not thought through.
Yes, it is. I haven't heard anyone trashing the farmers or the ethanol manufacturers. Have you?