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Is It Ethanol? Corn Harvest Up, Prices Too
Posted on August 12, 2008
Is Texas governor Rick Perry right to be wary about ethanol?New figures released today by the U.S. Department of Agriculture predict Americas second-biggest corn harvest ever in 2008behind only last year's record. And yet, prices for corn and other grains are expected to stay high. One possible culprit? Biofuel. Ethanols share of the corn harvest, the USDA says, will jump 37% this year, and will now swallow fully one-third of the 12 billion-bushel U.S. corn haul.Gov. Perry wants Washington to trim federal ethanol mandates because he says they raise prices for corn, which in turn hammer Texas i...
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