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USDA Defends Ethanol

May 26, 2008 | Categories:

USDA Defends Ethanol Filed under: General According to the president’s Council of Economic Advisors, the total global increase in corn-based ethanol production accounts for only about three percent of the recent increase in global food prices. That was the main summary point of a USDA press briefing held Monday in Washington DC to present their case for producing both food and fuel in the United States. Presenting the data was USDA chief economist Dr. Joe Glauber, who pointed out all the factors that have contributed to higher food prices in the last year including economic growth, weather, export restrictions, higher food marketing and transportation costs, and finally, increases in biofuels. Agriculture Secretary Ed Schafer said, “It’s clear that while bioenergy generation does have some effect on prices, it is not a major effect...

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