Jump in world prices raises specter of food riots

by Walter Olson on January 24, 2011

Now why again do we subsidize the making of corn into ethanol at great cost? [Kenneth Anderson, Opinio Juris]


1 No Name Guy 01.24.11 at 11:58 am

“Now why again do we subsidize the making of corn into ethanol at great cost? ”

Because the costs are dispersed on the consumer, the benefits are concentrated in the hands of the Corn Lobby who make bit, fat contributions to those in power.

“To whose benefit” as one blogger puts it.

2 Hans Bader 01.24.11 at 4:33 pm

Lobbyists. Businesses that profit from ethanol spend millions on lobbying. The environment and the world’s poor pay the price.

Ethanol mandates have had a massive negative impact on the environment.

But the Obama Administration views them as a “green jobs” program. Expect to see more such boondoggles in the future, courtesy of the Obama Administration.

Such green jobs programs have already had the effect of shipping thousands of American jobs overseas. 79 percent of the stimulus package’s green jobs funding went to foreign firms.

3 John Burgess 01.24.11 at 7:23 pm

To paraphrase Harry Truman, “I don’t have any third world constituents. So F’ ‘em.”

4 Bumper 01.24.11 at 11:44 pm

If memory serves me correct the original ethanol subsidies had Bob Dole’s fingerprints all over them and probably those of every other politician, regardless of party, from Kansas, Nebraska, Iowa, etc.

Comments on this entry are closed.