Food Crisis Causes Corn Ethanol Rethink
Posted on: May 5th, 2008 | By Contrarian Profits | Filed under Featured, Financial News
Rising food prices and are causing lawmakers in Washington to rethink support for corn ethanol, reports The Wall Street Journal.
According to the WSJ: “Two dozen Republican senators on Friday — including Republican presidential candidate John McCain — asked the Environmental Protection Agency to ease requirements mandated by Congress in 2007 to blend more ethanol and other renewable fuels into the gasoline supply.”
Kevin Kerr of Resource Trader Alert figures the political tide will turn decisively against corn-based ethanol by next year, with the departed George W. Bush taking the rap for the food fallout.