Matt, did you catch the USDA briefing on food and fuel earlier today? You can view the video here: mms://ocbmtcwmp.usda.gov/content/secy/secy051908a.wmv
Evidently, there has been enough backlash against biofuel production in light of rising food prices that the Bush Administration feels the need to address some of the concerns that have been expressed.
By the way, I'm going to be talking about some of the issues around food and energy, some alternative ideas of how those issues might be addressed, and the implications for the larger economy over at The MicroEnterprise Journal Blog all this week. I hope you get a chance to stop by and join the discussion.
Dawn Rivers Baker
of NY
@
May 19, 2008 20:24:14 PM
What run up?
If flour had gained only a penny a year for those 20 years the price would be within 6 cents of today's price. The real story here is the wheat farmers who received no increase in prices while the price of everything they bought, including seed, fertilizer, land, equipment, and even BREAD went up about 3-5% a year.
Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.
Dawn Rivers Baker of NY @ May 19, 2008 20:24:14 PM
Doug of IA @ May 19, 2008 13:28:10 PM
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