Texas Chimes In - Longhorns A Hurtin'

Editorial: Gas or food?
- 09:33 AM CDT on Tuesday, June 17, 2008
Unknown Author - The Dallas News.Com

NOTE: Below is only an excerpt, but you can read the whole article by clicking the link above.

"On Monday, corn futures flirted with $8 a bushel, an all-time record, and almost four times what corn was going for only two years ago. Because corn, in the form of corn syrup, is in so many food products in the American pantry, consumers are going to be hit hard at the supermarket.

High corn prices also translate into higher beef prices, as cattlemen struggle to feed their herds.

Which brings us to ethanol. Government economists say the domestic ethanol industry, heavily subsidized by the taxpayer, will consume a third of all the corn produced this year. It once made sense to incentivize farmers to grow corn for fuel; those days are gone."
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Other than the occasional spelling mistake, this editorial seemed to echo the grumblings being heard from the Texas farming community. At first they were supportive of the whole ethanol efforts. But as floods and futures are looking dim, they are suddenly realizing the impact that is going to have at home.

Funny how people are all for something until it actually affects them...