Moose what is food corn? Humans basically do not eat corn we feed it to livestock. When you produce ethanol you only lose a portion of the corn for feed stock. A by product of the corn from ethanol is corn oil taken before the process begins they are able to take 90% of the oil out of corn before they start the fermentation process. They can use this for biodiesel. The corn left after the ethanol is removed is called DDGS and is an excellent feed stock. One of the biggest reasons for the rise in corn price is that China, India and some other nations that use to consume corn, rice etc. has developed higher living standards and is now feeding livestock as we do and demand for grain has increased. Ethanol has definitely done its part. What we need to remember is ethanol was not meant as an alternative fuel but as an oxygenate agent. Also we need to remember we are still paying farmers to not farm tillable acres for conservation reasons.
The oil expert I heard on TV said once given the go ahead the CEO’s of companies that he talked to said they can have oil in 1 ½ year. I can’t imagine it taking ten years to build platform and drill a well this is something they have been doing for years. What you are saying is it will take 10 years because of the permitting that is required today. What I am saying if congress wants to solve our short term problems they can make it happen in a short time period.
If we would have passed Bush energy policy we would have eight years behind us but since we have set on our hands we need to shorten the process and get oil flowing ASAP.
And I will bet when this happens you will see future oil price drop to 60.00 / Barrel.



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All those animals are feed corn to help fatten them up for the market. So when the price of corn goes up the price of chicken feed goes up. The farmers cost goes up and they have to charge more for their products. The price of beef will rise as will the price of chicken.