Cheap No more: Rising incomes in Asia and ethanol subsidies in America have put an end to a long era of falling food prices
December 6, 2007. "Cheap No more: Rising incomes in Asia and ethanol subsidies in America have put an end to a long era of falling food prices," The Economist. Cites data, though unfortunately without attribution:
"America's
ethanol programme is a product of government subsidies. There are more
than 200 different kinds, as well as a 54 cents-a-gallon tariff on
imported ethanol. That keeps out greener Brazilian ethanol, which is
made from sugar rather than maize. Federal subsidies alone cost $7
billion a year (equal to around $1.90 a gallon)."