Saturday, May 3, 2008

USDA: No Time to Lower Goals for Ethanol

USDA Ed Schafer corn ethanol food prices RFSUS Agriculture Secretary Ed Schafer says this is no time to lower the goals for corn-based ethanol or blame ethanol production in the US for the run up in world food prices.

Schafer said that world food price increases are driven by a number of reasons including energy costs, low yields and bad weather.
"What's happening in the US today today is not affecting global food prices to the extent that people are talking about."
The USDA Secretary said that the US needs "to continue to develop the ethanol industry based on the corn feed stock so that we get to the long term issue of where we need to be of putting biomass in enough capacity."

Numerous reports over the past months have shown that energy costs--especially the rising cost of oil-- are driving up food prices and other consumer goods. American motorists know the pain every time they fill up at the pumps. But that same pain can be felt at the grocery store where higher energy costs impact every part of the food chain that brings food from the farm to the market.

List to the full report HERE (mp3)

Source: USDA

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