NOTE: Below is only an excerpt, but you can read the whole article by clicking the link above.
"ROME -- All hail the mighty American corn cob!
American corn was the biggest winner of the United Nations food summit in Rome last week. It wasn't supposed to be. Many countries and aid agencies - Egypt, Venezuela, Oxfam, even the director-general of the UN's Food and Agriculture Organization - came into the summit with corn, the de facto international symbol of the biofuels industry, in their gunsights.
They lost the gun fight. After three days of squabbling, the UN's final declaration did absolutely nothing to halt, even slow, the rise of the biofuels industry. Turning food into fuel was, in effect, sanctioned by the very UN food agencies that had called the summit to find solutions to the food crisis. People can go hungry. But heaven forbid that you can't find biofuels to fill your tank.
The outcome couldn't have made corn farmers happier. On Thursday, the day the UN yak-fest expired with a whimper, American corn prices rose to a record high. Corn for delivery in 2009, when one-third of the crop is expected to be consumed by the ethanol industry, reached a record $6.83 (U.S.) a bushel on the Chicago spot market.
That's about 250 per cent higher than the 2006 price.Commodities analysts said corn would have taken a dive had the summit's biofuels fight gone the other way."
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I REALLY want you to read this again, "Turning food into fuel was, in effect, sanctioned by the very UN food agencies that had called the summit to find solutions to the food crisis."
Are you getting this? The UN would rather have a food supply go to fuel...
"Corn for delivery in 2009, when one-third of the crop is expected to be consumed by the ethanol industry" Does the rest of the World not know that Our Government MANDATES that one-third of the crop goes to the ethanol industry? I'd say, YEP! Pretty much on-third is expected to be consumed alright, it is safe to print that...
I do this as a passion now, but the more I learn, the more angry I get about this scam...
2 comments:
Who knew this was affecting the whole world and the UN was even involved? WOW, this is crazy!
.Corn Production again is at record levels .Corn is trading for around $5 a bushel..bushel = 56 pounds
There is a about 11.2 cents worth of corn in an entire 1lb box of corn flacks.
If corn were $8 a bushel that would mean an increase of exactly 3 cents on a your 1 pound box of Corn Flakes. Scary isnt it lol
despite that radicals tantrums most people are able to these basic calculations and understand that clearly the rise in food prices isn't being caused by the increase in Corn.
Here's a clue .. How much does it cost to transport plant tjhe corn , to harvest the corn to transport the corn to the processors to transport the corn to the Cattle Farmer, to the Poultry and Hog Farmer ..to transport the corn to the General Mills for processing and so on and so on ..and finally to transport the end product whether it be your Steak , Chicken , Eggs , or Corn Flakes to the Grocery Store on $4-$5 Diesel Fuel
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