To follow up on my earlier post today (This is your planet-saving fuel? Ethanol? Are you nuts?), I got this chart off the Chicago Board of Trade today:
Now that is a genuine hockey-stick graph. As much as oil futures have risen over the last year (if you chose around January 2007 as your starting date, you could say oil futures have doubled in over a year), their rate of increase is being eclipsed by corn futures (if you chose your starting point in December 2005, corn futures have nearly tripled in less than two and a half years). The overwhelming reason for this increase is ethanol production.
In my opinion, any politician who campaigns about helping the poor but supports increased ethanol production needs to turn in his phony cares-for-the-poor credentials.
Well, I suppose he could carry on today; it is apparently “Tell a Lie Day,” which I don’t celebrate.
