Why does Bill Clinton link my ethanol subsidies to food riots?
"We have to become energy independent" but "we don't want to do it at the expense of food riots," the former President told an agriculture conference Thursday. He urged farmers to consider the needs of developing countries—the implication being that the diversion of corn to ethanol production limits food supplies and artificially raises prices.
No kidding. At the same gathering, Department of Agriculture chief economist Joseph Glauber did the math. Despite a forecasted 4% increase in corn planting, Mr. Glauber expects corn used for ethanol to hit a record five billion bushels in 2011-12, or more than one-third of total U.S. production, thanks to renewable fuel mandates and tax incentives. Corn prices recently hit two-and-a-half-year highs.
Liberals are politically retarded.
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