The Corn Crisis By Edwin Feulner
“What could possibly go wrong?” That’s what members of Congress probably thought when they started shoveling bigger subsidies at ethanol producers. Now, with food riots erupting in some parts of the world, we have our answer: a lot can go wrong.
Other factors--a weak dollar, high energy costs, low crop yields in places such as Australia--have played a role in this crisis. But diverting food to fuel is clearly a contributor, and it exacerbates the situation.
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