Skip to comments.It's Getting Harder to Bring Home the Bacon (it's Bush's fault!) (Big Government® at work)
Posted on 04/29/2011 5:43:32 PM PDT by rabscuttle385
What triggered the upswing? In part: ethanol. President George W. Bush "came forward withwhat do you call?the edict that we were going to mandate 36 billion gallons of alternative fuels" by 2022, of which corn-based ethanol is "a substantial part." Companies that blend ethanol into fuel get a $5 billion annual tax credit, and there's a tariff to keep foreign producers out of the U.S. market. Now 40% of the corn crop is "directed to ethanol, which equals the amount that's going into livestock food," Mr. Pope calculates.
Food price inflation isn't a problem confined to America's shores. "This ethanol policy has impacted the world price of corn," Mr. Pope says. The Mexican, Canadian and European industries have "shrunk dramatically. . . . We have an unsustainable meat protein production industry," he says. "We're built on a platform of costs, on a policy that doesn't make any sense!"
Nor does the science. The ethanol industry would supply only 4% of the nation's annual energy needs even if it used 100% of the corn crop. The Environmental Protection Agency has found ethanol production has a neutral to negative impact on the environment.
So what's the solution? First, Mr. Pope says, get rid of the ethanol subsidies and the tariff. "I am in competition with the government and the oil industry," he says. "It's not fair." Smithfield's economists estimate corn prices would fall by a dollar a bushel if ethanol blending wasn't subsidized. "Even the announcement that it is going away would see the price of corn go down, which would translate very quickly into reduced meat prices in the meat case," he says. Imagine what would happen if the mandate and tariff were eliminated, too.
(Excerpt) Read more at online.wsj.com ...
Thanks for nothing, you worthless RINO.
Marxist plans on track.
The Bushes never did have any political principles.
Economic growth slows, inflation surges
No kidding? Throw in corrupt free trade laws and off shoring tens of thousands of companies and businesses to Communist countries
Throw in the endless conga-line of tens of millions of illegals collecting welfare and choking off our health-care and our entire system
Throw in government working in concert with Wall Street and the banksters, as they demanded we bail them out for multiple trillions!
The dollar was made worthless due to 20 years of destructive, corrupt government policies!
The percentage of each past president’s cabinet who had worked in the private business sector prior to their appointment to the cabinet. You know what the private business sector is a real-life business, not a government job. Here are the percentages.
GH Bush............... 51%
And the winner is:
This helps to explain the incompetence of this administration: only 8% of them have ever worked in private business!
That’s right! Only eight percent-—the least, by far, of the last 19 presidents! And these people are trying to tell our big corporations how to run their business? They know what’s best for GM, Chrysler, Wall Street, and you and me?
How can the president of a major nation and society, the one with the most successful economic system in world history, stand and talk about business when he’s never worked for one? Or about jobs when he has never really had one? And when it’s the same for 92% of his senior staff and closest advisers? They’ve spent most of their time in academia, government and/or non-profit jobs or as “community organizers.” They should have been in an employment line.
Pass this on we’ll NEVER see these facts in the main stream media.
Of course this quote is attributed to no one.
Ethanol's been pushed since the 1970s. First ethanol laws passed in 1978. I'm sure many of the ethanol whiners here today were rah-rah'ing it years ago in their personal quest to "stick it to the Arabs". Bush continued what Ford, Carter, Reagan and Clinton did before him. To blame him alone is pretty freaking stupid.
It's only become chic to hop off the ethanol bandwagon these past few years. Let's see what happens going forward.
Bush’s fault, huh?
So, I expect we’ll see Obama reverse that order when he gets elected in ‘08. No? Gee, I wonder why?
Well... no... actually I don’t.
Jim 0216: “Marxist plans on track.”
Meat is bad for you, ergo the government is only trying to help you by raising meat prices. It’s for your own good...
Up is Down. Black is white. Evil is good. Good is evil. Regressives are Progressives. The Irrational Low Lifes are the Intellectual Elite.
The wife just came home from Costco and reported that the 3 lb bag of coffee that we usually get just went from $13.99 to $18.99.
“Companies that blend ethanol into fuel get a $5 billion annual tax credit”
Wait a second. Isn’t that about the same that Big Oil gets to explore and drill. So if we’re going to kill-off Big Oil’s bucks, why shouldn’t we kill off Big-Ethanol’s bucks?
VeniVidiVici: “Ethanol’s been pushed since the 1970s.”
Exactly. I’ve been avoiding the stuff since they first started pushing it. This crap doesn’t have the energy content of real gasoline and it’s corrosive. Why would I want to run something like that through my car’s engine when I can still buy the real stuff? I like my car to perform well, to include getting better gas mileage with real gas.
However, your point about Bush not being the only one to blame is a good one.
Disambiguator: “...coffee that we usually get just went from $13.99 to $18.99.”
Coffee is bad for you. It has caffeine, ergo the government is helping you help yourself by cutting back on your coffee consumption.
C’mon people. The green Marxists are doing us all a favor. Can’t afford to drive? Ride a bike. It’s much more healthy. Can’t afford red meat. Excellent! You shouldn’t be eating that stuff anyway.
w was the “Little Disaster”...Obama is the “Great Disaster”.
Stop buy that cheet or drink a hell of a lot less. They’ll keep jacking up the prices as long as people keep buying it. They’ll just keep tightening the noose around the necks of the American people.
We’re switching from coffee to tea. Much cheaper.
I would switch to beer, but drinking it in the morning before I go to work might present some problems.
How does one avoid it? I thought it was mandatory.
I hate the stuff too. Diesel, baby. :-)
It's all one gigantic cluster.
One-half gallon of oil in the form of pesticides per bushel of corn would cost $2 to $3 per bushel. If this were true -- and it clearly isn't -- it should be enough to illustrate to literally anyone that the price of petroleum is quite literally the ONLY thing driving corn prices. And this idiotic piece of agitprop -- from a hydrogen "energy" advocacy site -- also shows the guy in the encounter suit spraying chemical fertilizer, a sight that I've never been privileged to see, what with me *growing up on a farm*.