Here we go - The flood is going t be blamed for rising corn prices, which will cause rising beef prices...
AND other commodities such as soybeans will be on the rise for the shortage of corn.
But, they are blaming the flood and eventually I foresee the government and President Bush ultimately being blamed.
What they want tell you - Al Gore and his "fear tactics" are much more to blame then any flood!
Did you know that in 1994 Al Gore was the deciding vote on a bill extending an EPA regulation requiring ethanol to be added to the nations gasoline supply - This bill also raised the amount of ethanol mandated to dilute our gas.
Record corn prices mean more expensive meat, dairyNEW YORK (AP) - Raging Midwest floodwaters that swallowed crops and sent corn and soybean prices soaring are about to give consumers more grief at the grocery store.
It's a similar story for U.S. beef producers who are spending a whopping 60-70% of their production costs on animal feed. That number will rise as corn prices hover near an unprecedented $8 a bushel.
Corn drops as high prices prompt demand worriesVeraSun Energy Corp., the largest U.S. ethanol producer, said this week it will delay the opening of two new ethanol plants — one in Iowa, the other in Minnesota — because of high corn costs and other market conditions.
Corn can be used to make ethanol, which in turn can be used as a substitute for, or additive to, gasoline.
High corn prices are also hurting livestock owners, who spend more than 50 percent of their production costs on corn to feed their cattle, hogs and chickens. Some livestock owners are now faced with slaughtering parts of their herds or flocks to cope with rising feed costs, a move that will mean higher beef, chicken and pork costs later this year, analysts say.
Other agriculture commodities also fell Thursday. Soybeans for July delivery fell 10.5 cents to settle at $15.455 a bushel on the CBOT, while July wheat dropped 23 cents to settle at $8.81 a bushel.
By the way, according to the National Review, "the venture capital group Gore joined in November, Klein Perkins Caufield & Byers, has investments in Amyis and AltraBiofues. One of the key partners of this firm, John Doerr, is advoctiong legislation that would expand bio fuel usage...an astonding number of dollars invested in agritechnology companies by Gore and fols connected to him..." - Proving fear is as good of a business tool as it is a governing tool.
For those of you that believe biofuels are saving the planet - Don't look at those third world counties who are starving, just remember you are saving the planet with your biofuel, to heck with what it does to food cost and poor countries food supply. Biofuel sure doesn't lower fuel cost; however, drilling and building refineries would, not maybe, it will!
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