Hey stupid… yes you guys that reside and work in Washington D.C. As long as you’re on the
hunt, er… witch hunt for fuel price gouging maybe you bunch of duplicitious bastards should look over here.
Corn production is expected to go up 34 percent to 2.15 billion bushels, thanks to an increase in interest in ethanol, a fuel based on the plant.
The bad news is that as demand has gone up, so has the crop’s price, from $2.25-$2.65 a bushel, up from $1.95 to $2.05 last year. The amount of corn feeding the ethanol craze is 20 percent, up from just 5 percent a few years ago.
Likewise, the demand for soybeans has gone up as well, thanks to an increased interest in soybean-based diesel.
And while you’re at it you may want to do something about the import tax imposed on ethanol.