jstmike
01-04-2008, 03:40 PM
Another Government created crisis. Oil is evil so lets make fuel out of corn. So corn prices go up and farmers switch their crops from wheat to corn. All animals that are feed corn goes up and so on down the line. And then they tell us that inflation is under 3%.
http://www.financialpost.com/story.html?id=213343
At the centre of the imminent food catastrophe is corn - the main staple of the ethanol industry. The price of corn has risen about 44% over the past 15 months, closing at US$4.66 a bushel on the CBOT yesterday - its best finish since June 1996
But Mr. Coxe warned U.S. corn exports were in danger of seizing up in about three years if the country continues to subsidize ethanol production. Biofuels are expected to eat up about a third of America's grain harvest in 2007.
http://www.financialpost.com/story.html?id=213343
At the centre of the imminent food catastrophe is corn - the main staple of the ethanol industry. The price of corn has risen about 44% over the past 15 months, closing at US$4.66 a bushel on the CBOT yesterday - its best finish since June 1996
But Mr. Coxe warned U.S. corn exports were in danger of seizing up in about three years if the country continues to subsidize ethanol production. Biofuels are expected to eat up about a third of America's grain harvest in 2007.