The Guns of August: The Corn is No Longer as High as an Elephant's Eye
This from today, February 2011: "The U.S. Department of Agriculture predicted last week U.S. corn farmers will have just 675 million bushels of corn at the end of August, before next year's harvest begins. That's just an 18-day supply, Nagel said. -- World Bank report says food prices are at "dangerous levels" after rising 29 percent in a year - 2/15/2011 3:39:28 PM | Newser
This from August, 1919:
And this from February, 1917:
Subsidizing Food to Make Fuel so prog-schmucks can feel good about their gastanks. How's that working out?
Corn is the top crop for subsidy payments. The Energy Policy Act of 2005 mandates that billions of gallons of ethanol be blended into vehicle fuel each year, guaranteeing demand, but US corn ethanol subsidies are between $5.5 billion and $7.3 billion per year. Producers also benefit from a federal subsidy of 51 cents per gallon, additional state subsidies, and federal crop subsidies that can bring the total to 85 cents per gallon or more.[17] (US corn-ethanol producers are also shielded from competition from cheaper Brazilian sugarcane-ethanol by a 54-cent-per-gallon tariff[18][19])
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