UN Calls for Halt to U.S. Ethanol Fuel Policy

Interesting development, although I doubt that the U.N. will have that much influence here.

UN Calls for Halt to U.S. Ethanol Fuel Policy

The United Nations Food and Agriculture Organization (FAO) called for an immediate temporary suspension of the United States' Renewable Fuel Strategy (RFS) Thursday, as a measure to avert a global food crisis. Most of the country's agricultural regions are experiencing a severe drought that is the worst in over a over a half a century.

The FAO predicts that the impact of the drought, in conjunction with the RFS' earmark for 40% of corn product to be used for fuel production will contribute to a global food crisis, the 26% increase in corn prices from June to July notwithstanding.…..
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I remember a time when corn was not very high priced and farmers were not really doing well growing it, leaving a percentage of farmland unused. Same thing happened with soy bean. It seemed like the thing to do - make fuel out of it to help the economy. How times can change.

PL

The midwest drought has played havoc with the corn crop this year and prices will be going up for many things -- not usually associated with corn -- fuel among them. Of course we could also use grapes............