CBO Report Links Ethanol To Increased Food Prices

From TheHill.com:

Increased use of ethanol was responsible for about 10% to 15% of the rise in food prices from 2007 to 2008, but reduced greenhouse gas emissions from the transportation sector by less than 1%, according to a Congressional Budget Office report released this week.

“This study is yet another in a long list of studies confirming the limitations of corn ethanol as a solution to either fossil fuels use or greenhouse gas emissions goals,” said Craig Cox, Midwest vice president for the Environmental Working Group.

Ethanol supporters, however, focused on other factors that contributed even more to the run-up in food prices, such as rising energy costs.

Read the full report by Jim Snyder at the link below.