News Summary: Farmers want ethanol delay

AP News
Posted: Aug 09, 2012 1:11 PM
News Summary: Farmers want ethanol delay

DROUGHT DEMAND: Rising feed costs in the Midwest drought are prompting livestock farmers and ranchers to demand that the EPA waive production requirements for corn-based ethanol.

FUELING CONTROVERSY: Government standards require that 13.2 billion gallons of ethanol be produced this year to reduce greenhouse gases and dependence on foreign oil.

CORN FIELD: 40 percent of the nation's corn goes to ethanol producers, with 36 percent for feed. The rest is for processed food and exports. Critics say ethanol is a big factor in corn rising from an average $2.15 a bushel six years ago to more than $8 today.