If you think food, snacks, and soda prices are high now, hold on. You ain't seen nothing yet. Here comes even more inflation.
This is the worst corn crop in 17 years, but we have to keep producing ethanol to reduce our already limited supply of corn. Food prices will increase anyway, but the foodstuffs made from corn - and that's extensive - are competing with the ethanol use of it - and it is being subsidized by us the taxpayers.
Corn isn't labeled a "staple" without good reason.
There's the obvious corn on the cob and canned and frozen corn. Then there's corn flakes, corn pops, corn chex, and other corn cereals.
Now we add in corn syrup and high fructose corn syrup - and that goes just about everplace. Sodas, processed foods, mixes, snacks, lunch meat, hot dogs, and on and on.
Still we have to produce that ethanol which reduces gas mileage and fouls small engines. There is a great secondary business called Sta-bil that has emerged, but that shouldn't have been necessary. Clearly our priorities as a country are twisted.
Phooey on ethanol. We can't afford it - anyway you look at it.
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