Comments on: Follow the green dot http://blackinformant.com/2008/05/08/follow-the-green-dot/ African-American culture, news commentary, politics Fri, 16 May 2008 17:30:21 +0000 http://wordpress.org/?v=2.5 By: MIB http://blackinformant.com/2008/05/08/follow-the-green-dot/#comment-236179 MIB Fri, 09 May 2008 11:52:09 +0000 http://blackinformant.com/?p=4336#comment-236179 Contrary to the EIR article -- a notoriously unreliable news source as any -- the world's grain harvest for 2007 reached a record high. And the amount of corn diverted in the U.S. for ethanol production this year is approximately 25% lower than the stated number (~20%). Another fact not included in the article is much of the corn used in ethanol production isn't edible for humans. The most recent edition Newsweek ran a fairly informative series on the ramifications of corn-based ethanol production. Even when accounting for the increased amount of corn used in U.S. ethanol production, the impact upon grain prices is tertiary in comparison to the huge increases in petroleum prices and heightened speculation on grain commodities by investors. Then there's ill-formed public policy, like the Energy Independence and Security Act of 2007, and countries including India and China who have placed caps on grain exports. Contrary to the EIR article — a notoriously unreliable news source as any — the world’s grain harvest for 2007 reached a record high. And the amount of corn diverted in the U.S. for ethanol production this year is approximately 25% lower than the stated number (~20%). Another fact not included in the article is much of the corn used in ethanol production isn’t edible for humans. The most recent edition Newsweek ran a fairly informative series on the ramifications of corn-based ethanol production.

Even when accounting for the increased amount of corn used in U.S. ethanol production, the impact upon grain prices is tertiary in comparison to the huge increases in petroleum prices and heightened speculation on grain commodities by investors. Then there’s ill-formed public policy, like the Energy Independence and Security Act of 2007, and countries including India and China who have placed caps on grain exports.

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