Monday, January 29, 2007

Ethanol to "significantly" increase food prices?

Tyson Foods is worried about the price of corn due to ethanol. In fact, Tyson stated, "consumers will pay significantly more for food" due to the rising price of corn according to CNBC's Morning Call. So far ethanol has pushed the price of corn 60% higher, which is making it 20% more expensive to raise animals according to this morning's segment.

It is kind of interesting that American tax payers are helping to subsidize the ethanol industry, yet we will have to pay twice for those subsidies in the form of higher food prices.

What happens when our ethanol production doubles and triples?

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1 Comments:

At 12:05 PM, Blogger robertg222 said...

Just another bad idea for the government of stupidity. Applies to both parties.

 

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