America is Drunk on Ethanol

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photo from wired/ AP/ Charlie Neibergall

You can read in Bloomberg how Corn farms have replaced New York lofts as the hottest properties around. "Demand for corn used in ethanol increased the value of crop land 16 percent in Indiana and 35 percent in Idaho in 2006, government figures show. The price of a Soho loft appreciated only 12 percent, while a pied-a-terre in Islington near London's financial district gained 11 percent, according to realtors....."it is the surge in corn prices from ethanol demand,'' said Jim Farrell, chief executive officer at Farmers National Co. in Omaha...``Midwest farmland is predicated by the strength or weakness of corn prices.'' You can read in the Columbus Dispatch that Demand for corn driving up meat prices.: "Strong demand for corn from ethanol plants is driving up the cost of livestock and will raise prices for beef, pork and chicken, the Agriculture Department said Friday." Or you can read this great summary from Wired, which explains the benefits and problems. "The only economical way to make ethanol right now is with corn, which means the burgeoning industry is literally eating America's lunch, not to mention its breakfast and dinner." Read more in ::Wired

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