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Food shortages coming

Posted on January 06, 2008

Food prices have been skyrocketing, and we think it's a good idea to subsidize the ethanol industry so we can burn 1/3 of our corn production in our fuel tanks!? Great idea... Not. Those who have food are going to have a big edge. With 54% of the world's corn supply grown in America's mid-west, the U.S. is one of those countries with an edge.But Mr. Coxe warned U.S. corn exports were in danger of seizing up in about three years if the country continues to subsidize ethanol production. Biofuels are expected to eat up about a third of America's grain harvest in 2007.Mr. Coxe said crop yields aro...

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