Buried in the second to last paragraph: U.S. corn crop diverted to make totally inefficient biofuels up from 20% to 40% in two years. Meanwhile, one billion people are undernourished, and food prices are set to rise world-wide. Corn is an input for all dairy and meat products.
Shouldn't economists be taking a closer look at the relationship between food prices and ethanol? Or is unaffordable food simply of no concern to the wealthy?
Which is the greater evil, Big Oil or Big Corn? The rank hypocrisy - to say nothing of the rank stupidity - is enough to make one pig-biting mad.
Sunday, March 6, 2011
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