Corn has always been a part of politics. It is something that the voting public has come to expect. It is also about the gentlest description used for what sometimes comes out of the mouths of those running for public office.
This year it has taken on a new meaning. The powerful lobbies behind the ethanol industry are heavily involved in attempts to influence the race for the Presidency. That seems interesting to me considering the fact that many ethanol plants are only marginally profitable and others have sold recently due to lack of profitability. Still others have delayed plans to build more plants or to expand existing capacity due to lack of profitability.
So, who is behind the lobby groups? Could it be the large agricultural interests that are reaping the benefits from $8 corn?
I am happy to see farmers realizing the benefits of high corn prices. I'm much less excited about the impact that those same high corn prices are having on other things such as food prices and livestock feed. I'm irritated that we are supporting those prices with tariffs against importing less expensive sugarcane-based ethanol produced in Brazil. I am angry that we are propping up the domestic ethanol industry which is damaging the livestock industry, raising fuel prices and negatively impacting food prices with a $0.54/gallon subsidy. This is not energy security. This is tax-and-spend politics in a different form.
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