"It's a madhouse! A MADHOUSE!!!"
Corn 50c an ear at Safeway. On Sale!
Ahem. I believe this really is Bush’s fault. Time to stop this nonsense now, no mater who started it. End the Ethanol programs immediately!
The foresight exercised with respect to this ethanol debacle reminds one of the foresight exercised with respect to the aftermath of the Iraq invasion: in both cases, bupkis.
“Enraged citizens in Egypt and Pakistan — potential Muslim powder kegs — “
At least it’s not all bad news. ;>)
Mmmm . . . dirt cookies. Have some before your dirt nap.
Ted Turner was right. Cannibalism is right around the corner.On a brighter note less demand for fossil fuel will result in lower prices for us. ;-)
Fortunate that the price of fuel and fertilizer, and land have nothing to do with food prices.
Many here believed that this alcohol to fuel nonsense was good and would not raise food prices at all, even after I showed how to pick up some money trading futures.
Granted, the buy in for this market is high but there was money to be made going long on futures and LEAP options.
All of this is just MO and your mileage may vary.
"It's a madhouse! A MADHOUSE!!!"
Al Gore invented the Global Food Riot.
Drill wells, build refineries, build nuclear power plants, open the coal fields closed by the co-president Clinton's, burn the EPA at the stake and tell the Iraqi's to either sell us all the oil we can use at $15.00 a barrel or let them defend themselves.
The idiocy of global warming, Ethanol and other envirowhacko policies are causing this country great harm. Maybe when food/fuel prices make both products unattainable to most, we’ll have change. Until that time, grin and pay!
Boo hoo. Tell it to the ragheads. I didn’t hear these same poor slobs bitchin’ when oil went from $30 a barrel to $115. Why is it the bedouins can charge whatever they want for THEIR commodities, but we’re somehow obligated to feed the world for free?
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I read somewhere that ethanol production might actually use more energy than it produces. If so, this is all a PC shell game anyway.
I suspect something about the whole ethanol deal, and why George W. Bush suddenly endorsed it a while back. Remember that Bush is an oil man, and has a real good grasp of the reality of ethanol and energy.
What if there was a sudden cut off of OPEC oil, right now?
Despite the high price of crude, President Bush has been buying oil right, left and sideways to put in the strategic reserve. Right now, there is enough crude there for a 60 day supply.
Since we can’t count on Venezuelan oil anymore, in that Chavez would probably join an OPEC shut off, how much new oil production could be started in the US and Canada in 60 days? Maybe not enough.
But interestingly, by adding ethanol to gasoline, up to 15% less gasoline is consumed, without affecting gasoline engine performance. While certainly not enough to replace all of our gasoline, it gives the US and Canada more time to pump and refine oil.
The answer to the supposed brainlessness of ethanol production might have been answered in the last week, when a group of congressional Democrats asked Bush to stop putting more crude oil in the strategic reserve “...which would enable the United States to go to war with Iran.”
Other than having utter disgust for these Democrats, it might answer the question of why the price of food is going up right now. Food used to produce alcohol.
Despite their insistence to the contrary, George W. Bush is no fool. And if we do get into a war with Iran, we will kick their butt, despite the passionate desire of the Democrats that we lose and be both humiliated and defeated.
Was there any mention at all of crop failures around the world and ever-growing populations in relation to tighter food supplies?
This is so much bull pucky!
There is a shortage of rice and beans in Haiti. When supplies get there the folks can’t afford to buy the food, so they riot. What are we supposed to do? Take over the island and nation-build Haiti for the umpteenth time! Enough is enough.
There was a failure of the wheat crop in Ukraine. A drought has destoyed the rice harvest in Australia, and thus Asian nations are not exporting rice, period.
So - what has that got to do with how we handle our corn harvest, much less allocate the crop? It is not the business of Mexico or India to tell us what to do - they can all starve (I am hard hearted) because their stupid, backward socialist run governments can’t feed those nations.
And since when have the south Asian Indians eaten corn? They grow and eat rice.
Oh, before I forget: the crop of corn for this year is predicted to be 20% larger than last year’s, and the crop for next year is being predicted (by commodities traders) to be half-again as large as this years. Free markets responding to increased demand - it’s a beautiful thing!