Case IH Power Tab

Farm Futures
   Search Site:   Friday, May 25, 2012 | Bookmark This Site   
Skip Navigation Links
Home
Markets
News
Weather
Farm Futures NOW!
Magazine Online
RSS News
Land For Sale
Mobile
Subscribe
Reprints
Register
Login
About Us
Advertise
 
Share This
 

Attacks on Ethanol Keep Rolling as Republican Senators Join Assault

Harkin urges EPA to uphold ethanol standards.
Compiled by staff 
Published: May 6, 2008

Two dozen Republican senators have jumped into the fray surrounding ethanol, writing to Environmental Protection Agency Administrator Stephen Johnson requesting the waiving of the Renewable Fuels Standard. They claim it is responsible for the increase in food prices despite several studies and economists that show other factors as the major culprit for rising food prices. This comes on the heels of requests by Texas and Connecticut for waiver of ethanol blending requirements.

Senate Agriculture Committee Chair Tom Harkin, D-Iowa, says that rising food prices are a concern around the globe, but the attempt to persuade the EPA to halt ethanol is without merit.

"To single out increased biofuels production and use in the United States, European Union and other countries as the chief cause of higher world food prices is an over-simplification of the problem," says Harkin. "Numerous factors are contributing to this increase in prices: a strong demand for food imports in Asian countries such as China and India, abetted by the weak U.S. dollar, high energy costs, and poor harvests over the last few years in key producing countries such as Australia and the European Union."

Other Republican senators also spoke out against the move. Senator John Thune, R-S.D., called the effort misguided and that backtracking on the energy policy that was set forth in the Energy Independence and Security Act of 2007 would be a mistake.

"It's very convenient right now to make ethanol the whipping boy for food prices when in fact oil prices have a lot more to do with the high price of food than the price of corn does," Thune says. "What you're seeing I think is an attempt here to use this, it's very fashionable right now to attack ethanol and everyone seems to be piling on; but if you look at the facts, the facts tell a very different story."

Thune says it's important to respond to this attempt, and he and Senator Charles Grassley, R-Iowa, are working together to get a message out there to counter what is being said in this letter.



Permalink: Click here

Tagged: ethanol, EPA, biofuels, Environmental Protection Agency, energy costs

Comments
Read comments from others and share your own thoughts.
Please provide the answer to the following question:

 = 
 
Search this site:   

Read More Stories
MF Global Friday: Exec Pay Surprise
Read this storyCME defends its post MF Global actions, Corzine got a check and a Senator calls for change at the CFTC.
Read this story

Weak Corn Exports Undermine Farm Futures Prices
Read this storySoybeans find support in strong weekly sales of old-crop supplies. (audio)
Read this story

Grain Market Eyes Europe, Weather
Read this storyWeakening economic conditions are the latest fallout from the Greek debt crisis. (audio)
Read this story

 
The Buzz: Grain Market Chaos Continues
Meat Exports Holding Steady
Afternoon Recap by Arlan Suderman
Morning Call by Bryce Knorr
Farm Bill Heads for Senate Floor
Weak Corn Exports Undermine Farm Futures Prices
Livestock Call By John Otte
Weekly Corn Review
Top 50 Tags
4-H afternoon recap American Farm Bureau Federation American Soybean Association animal health arlan suderman biodiesel biofuels bryce knorr BSE Bushel checkoff cotton Drought Environmental Protection Agency EPA ethanol Extension extension service farm farm bill Farm Bureau farm futures farm futures magazine farm futures market farm progress Farm Service Agency farmfutures farmfutures.com farming farmprogress.com fertilizer FFA free trade agreement Harvest insurance labor legal National Cattlemen's Beef Association National Corn Growers Association NCGA soybean soybean association soybeans SURE usda wheat winter wheat www.farmfutures www.farmfutures.com