All morning long, one of the lead stories in the morning news is that corn prices are going to rise due to smaller harvests, and from that, the price of virtually everything that uses corn, from cattle feed to Coke will see a price rise.
What you don’t see is many (or any) references to the effect that ethanol, or as I like to call it, boondoggelol, is a prime contributor to this small harvest. Apparently, government controlled mainstream media doesn’t think that is newsworthy. But is it?
I found an article that does put ethanol in the forefront of the problem. The key paragraph states:
“Corn is found in about a quarter of the products you buy at the grocery store and is widely used as animal feed. About 40% of the U.S. corn crop is used to create the fuel additive ethanol. And about 15% of it is exported to other countries.”
I didn’t see that on the Early Show this morning.
So not only does ethanol lower the energy content of gasoline, requiring you to use more, and ruin engines by absorbing water from the atmosphere, but it is responsible for raising the price of meat and other foods you need.
Nice system, huh? The government gets some marginal decrease in emissions, about 66 kilograms of CO2 per million BTUs for E10 vs. close to 71 for gasoline on the same scale, but it gets increased revenue from gas taxes on the increased fuel sales due to the lowered efficiency of gasohol. One has to wonder if the emissions gains mentioned above disappear due to the need to burn more fuel per mile. Dare I say that this will be yet another nail in the coffin of the U.S. economy, extending the Øbama recession?
I think it would be a safe bet that this corn harvest issue will be twisted into yet another “global warming” issue to deflect blame from their crackpot legislation and policies.
Don’t you miss a hard working press, critical of all administrations?
Enjoy your higher food prices.