Ethanol Gold Rush Carries Costs
Thanks to a host of generous ethanol subsidies, we have seen a stampede of American farmers planting corn in place of other crops to cash in on the ethanol craze, says USA Today.
For non-farmers, though, the consequences are less cheery. They get to pay for the corn twice — once through taxes to fund a 51-cent-per-gallon federal subsidy, then again at the dinner table because as more corn goes for ethanol, less is available for food and feed, boosting prices.… Read the rest