In response to:

Dimwit Energy Policies, Record Corn Prices

kenneth416 Wrote: Aug 11, 2012 12:40 PM
Yeah, Mr. Shedlock, but look at the money being made by Archer-Daniels-Middleton and the other big agri-businesses. There are a lot of rich (large) farmers in the mid-west thanks to the Congress enacting the ethanol subsidy, accompanied by the mandate for some minimum use. Remember, these were passed and signed into law by George W. Bush. So what if your corn flakes in the morning now cost $5 per serving? I like to think that, if corn had been a better source of fuel than crude oil, old Henry Ford would have discovered it in the early 1900's and the Model T would have had a corn crib and water tank built in to provide fuel.
woodie144 Wrote: Aug 11, 2012 5:05 PM
Archer Daniel Middleton? Really? At least you could have looked up the name of the company.

The price of corn is at all all-time high because of extreme drought conditions in the US coupled with the hottest July temperatures since records began 117 years ago.

Inane Policies

US policy mandates production of ethanol for blending in gasoline. That ethanol comes mostly from corn.

Diverting corn crops to inefficient ethanol production has members of the Group of 20 leading economies – including France, India and China – concerned about the US ethanol policy.