Ethanol Now Consumes More Corn Than For Animal Feed for First Time, Corn Prices Reach Record High

What fool country ever burned up its food supply? Anyone think this will not cause tremendous inflationary pressure on almost all that we eat? Both meat and grains are affected, we are burning our food for no purpose. This will cause tremendous suffering world-wide and cause untold  misery for those who can barely pay to feed themselves now. Massive dislocation. For shame, Obama. For shame Congress not to think of others. If you want to fool yourselves and think you are doing something for climate change,  you are a nuts. You are condemning much of  the third world to massive starvation. But then again, you like riots. It helps you to get to your destination.

Financial Times —  “U.S. ethanol refiners are consuming more domestic corn than
livestock and poultry farmers for the first time, underscoring how a
government-supported biofuels industry has contributed to surging grain
demand.

The U.S. Department of Agriculture estimated that in the year to August 31 ethanol producers will
have consumed 5.05 billion bushels of corn, or more than 40% of last year’s
harvest. Animal feed and residual demand accounted for 5 billion bushels.”

HT: Cape Diem