We are diverting increasing amounts of corn into ethanol which goes into our gasoline. That is driving up grain prices. That in turn is driving up food prices here in the U.S. and around the world.
And that at a time when our domestic oil production is going through the roof.
Carpe Diem reminds us of two older articles in More on the lunacy of turning corn into demon ethanol.
The first is from Slate, in July 2012 – Food as Fuel. The second is from far left economist Paul Krugman from April 2008 – Grains Gone Wild.
In the Carpe Diem post, Prof. Perry says that anytime you have Paul Krugman agreeing with fifteen named sources (including commentators from both left and right) that ethanol is a lousy policy …
… you know that ethanol has to be one of the most misguided public policies in U.S. history.