dumb, plain dumb! Is your president thick? This issues suggests so. FFS, it boggles the imagination. Bush wants to wean the US off foreign oil so he instead starts refining biofuels from corn. Nowt wrong with bio-fuels, using good food crop to do it is dumb. In his actions he sets off a mini commodity boom. Maybe concentrate on energy efficiency and lower reliance on overseas oil that way?
Interestingly here in NZ, where we get Dyers column syndicated in my local newspaper, our dairy famers are experience a boom in prices. Several factors to that, one I understand is the increased price of corn & wheat that is being diverted to make fuel. Our milk production costs are not necessarily rising as a result, much of the production is pastoral with cows 365 grazing paddocks. Our farmers are certainly benefitting from the high prices mind. Pork & chicken farmers & beer brewers are a little pissed though as prices of wheat go up. We grow a % of our own needs & import some from Australia. With wheat been sucked up for bio-fuels the price goes up & so does demand. It is also likely more farms will be converted to dairy, given the high milk prices, & some of the existing wheat production will be siphoned off for supplementary feed for cows.
rob