ethanol
City Dwellers Got Millions in Farm Subsidies. What about the Family Farm?
According to a June 24 report, an estimated 90,000 people living in 350 cities and towns across the country got nearly $400 million in taxpayer-funded crop subsidies last year, says a top environmental watchdog group. “We are sending handouts to Wall Street investors and absentee landlords instead of working toward creating a safety net for working farm and ranch families. (more…)
Senate Kills off Ethanol Tax Credits
The Senate voted 73-27 Thursday to kill a major tax break that benefits the ethanol industry, handing a political win to a bipartisan group of lawmakers that call the incentive needless and expensive. Does anyone even have to guess how liberal Illinois Senator and Majority Whip Dick Durbin voted? No, Nein, Nada. There has never been a tax increase or a subsidy to ensure political support that Mr. Durbin didn’t support.
The Hidden Cost of Ethanol Subsidies
By mandating 40% of our corn crop be dedicated to ethanol, we’ve created domestic shortages that may turn the U.S. into a net importer of corn and destroy our dominance in one more area of the world economy. This is likely to be hard on food prices at a time when they are already going up. In an attempt to appease environmentalists — for whom nothing is ever enough — we risk mandating ourselves right out of dominance in one more area of the world economy. (more…)
Obama’s Vision: Make More Ethanol
The Department of Agriculture will soon be helping gasoline stations install new pumps that can dispense fuel with higher ethanol content, according to USDA Secretary Tom Vilsack. The USDA will offer grants and loan guarantees for the installation of costly new “blender pumps” so drivers can purchase fuel with a higher ratio of corn-based ethanol. Opponents charge program will increase food costs.
America’s Food Supply Threatened by Gov. Manipulation
The price of corn has reached a record $7 a bushel. Other basic foodstuffs, including wheat, sugar, and soybeans are selling at or near record prices. Milk prices as well have risen to record levels, making it more difficult for families to purchase milk for their children. It is Obama, more than anyone, who is responsible for this state of affairs.
Oil and Ethanol = High Prices and Poor Results
The world is a complicated place. Oil prices go up and down with no reason or predictability. Either inflation or recession runs rampant across the globe. Governments are helpless. They either print more money, which causes more inflation, or regulate the situation into another recession. Stability seems a thing of the past.
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