US biofuel production should be suspended, UN says

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US biofuel production should be suspended, UN says

Biofuel production raising food prices.

Bubblehead II

Economy • 8/10/12 1:33:35 pm • Views: 592

Under US law, 40% of the corn harvest must be used to make biofuel, a quota which the UN says could contribute to a food crisis around the world.

Stand by for an outrageous outrage as the wing nuts start claiming the U.N. is trying to seize U.S. Crops.

(Edit 08/11/2012) Surprisinly enough. This hasn’t happened. In fact, there have been a couple who actually agree.

Edit. Forgot to provide the link

BTW, this was brought up at todays W.H. Presser. Reporter asked Carney if the W.H. was going to suspend/waive this requirement to keep food prices down. He was directed to ask the USDA and EPA for further information.

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8 comments

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Bubblehead II Fri, Aug 10, 2012 3:39:49pm

Besides the U.N worries over Global Food Shortages, here is another reason this law should be scrapped. It isn't profitable nor sustainable.

Ethanol production margins signal plant closures

An analysis of the economics of corn ethanol production by Todd Schmit, an expert in agribusiness management and marketing, has the margin of production extremely close to unprofitable, which could result in ethanol plants shutting down.

I never understood the logic of turning food into fuel to be burned up in a internal combustion engine when there are other ways to obtain fuels from algae, canola and switchgrass to name a few.

EiMitch Fri, Aug 10, 2012 4:36:38pm

re: #1 Bubblehead II

The logic is in protecting the profits of corn farmers. I mean, its not like farmers can just grow something else. ... Oh, wait a minute!

Bubblehead II Fri, Aug 10, 2012 6:07:32pm

re: #2 EiMitch

The logic is in protecting the profits of corn farmers. I mean, its not like farmers can just grow something else. ... Oh, wait a minute!

Farm subsidies. Grow (or don't grow) this (or that) and we will pay you either way.

// Yep, free market capitalism at its best.

lostlakehiker Fri, Aug 10, 2012 9:54:02pm

Sad that neither party seems to understand that there's a moral and prudential problem with burning food in the middle of a crop failure.

Corn ethanol doesn't even net out as a real way to combat global warming. It nets out as a way to win the Iowa presidential caucuses, and that's about it.

Dark_Falcon Sat, Aug 11, 2012 7:22:45pm

re: #3 Bubblehead II

Farm subsidies. Grow (or don't grow) this (or that) and we will pay you either way.

// Yep, free market capitalism at its best.

Thank FDR and Harry Truman for it. But the idea is sound. The problem is Congress. (When is it not?)

Bubblehead II Sat, Aug 11, 2012 7:31:19pm

re: #5 Dark_Falcon

Thank FDR and Harry Truman for it. But the idea is sound. The problem is Congress. (When is it not?)

That I can agree with. Hell, even some over in the fever swamps agree with me on this. What Main Steam politician is willing to put his/her ass on the line to put limits on this (ethanol)?

*Crickets"

Dark_Falcon Sat, Aug 11, 2012 7:37:20pm

re: #6 Bubblehead II

That I can agree with. Hell, even some over in the fever swamps agree with me on this. What Main Steam politician is willing to put his/her ass on the line to put limits on this (ethanol)?

*Crickets"

The one who doesn't need ADM campaign cash.

Bubblehead II Sat, Aug 11, 2012 7:52:00pm

Dark_Falcon #7

Exactly That leaves out any Rep/Sen from an Agricultural State

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