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High grain prices can't be completely blamed on ethenol. High wheat prices can be traced back to 2000 when farmers wan't to produce genetically modified wheat against some of the diseasesthey were battling. the consumer didn't want it thopugh so a lot of wheat farmers switched to other crops like corn and soybeans rather than mess with wheat. Yes ethenol has contributed to the rise in corn acres that has driven up soybean prices. Fertilizer went up so more farmers will plant soybeans than corn because beans don't take fertilizer. China can be blamed for higher gas prices since foreign markets have developed a lot becausethe standard of living has risen so much. The national geographic did a large article on china and i suggest you take a look at it. China's economy is forseen to be larger than the U.S.'s in the next ten years. With the higher gas prices ethenol has been pushed to be developed and decrease dependency on foreign oil. Its a viciouse cycle that could casue termoil all over the world. The people that will be hurt the worst is the poor. Somethign hasto break in the next ten years becasue thigns can't stay like this. The best cure for high prices is high prices and the best cure for low prices is low prices. We are lucky that corn isn't higher. I heard the other day that if inflation from the 70's would have continued we would have $10 corn and higher beans. ITs just one of them things that will have to work themselves out andthere is nothing that you can do about it.
 
From the article......."One factor being blamed for the price hikes is the use of government subsidies to promote the use of corn for ethanol production. An estimated 30% of America’s corn crop now goes to fuel, not food.

“I don’t think anybody knows precisely how much ethanol contributes to the run-up in food prices, but the contribution is clearly substantial,” a professor of applied economics and law at the University of Minnesota, C. Ford Runge, said. A study by a Washington think tank, the International Food Policy Research Institute, indicated that between a quarter and a third of the recent hike in commodities prices is attributable to biofuels.
 
While I don't profess to understand the futures market it seems wrong to me that futures traders can run up the price of agricultural products on paper without having to put their money where their mouth is. Recently cotton reached 92 cents a pound but there was no one willing to sign a contract at this price. Fertilizer, equipment and seed companies look at these high prices and pencil out how rich the producer is going to get and jack their prices up to get their share even though these numbers are nothing more than butterflies in the wind.
 
When factors other than the free market affect society we have imbalance. An electric car is only "green" in the sense that the energy is being produces elsewhere so a pollution rich area like San Fransisco can pay for the NIMBY notion of producing pollution somewhere else.

According to a 2005 report issued by the Agriculture Department, corn ethanol costs an average of $2.53 to produce, or several times what it costs to produce a gallon of gasoline. Without the subsidies, costs would be higher still. A study last fall from the International Institute for Sustainable Development found that ethanol subsidies amount to $1.05-$1.38 per gallon, or 42 percent to 55 percent of ethanol's wholesale market price.

If ethanol has commercial merit, it doesn't need the subsidy. If it doesn't, no amount of subsidy will bestow it.

http://www.cato.org/pub_display.php?pub_id=7308
 
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