As expected, President Bush gave a major energy policy address at the Washington International Renewable Energy Conference (WIREC) Wednesday morning. He trumpeted America's leadership on ethanol and biodiesel, noting the U.S. has become the world's leading ethanol producer, most of which comes from corn.
"And that's good - it's good if you're a corn grower and it's good if you're worried about national security," the President said. "I'd rather have our corn farmers growing energy than relying upon some nation overseas that may not like us."
But President Bush also acknowledged high corn prices aren't good for everyone. He pointed out sharp increases in feed costs are hurting hog and cattle producers and boosting food prices.
"If you're a hog raiser in the United States, you're worried about the price of corn to feed your animals," said the President. "I'm beginning to hear complaints from our cattlemen about the high price of corn," he added. "The high price of corn is beginning to affect the price of food, and so we've got to do something about it." [Read full article]
by Peter Shinn