lawman
Thinks s/he gets paid by the post
Disclaimer here. I live on a farm and own farmland which raises corn. I am probably the only person on this forum who walked on a cornfield today. We'll be planting in a week or so.
That said, I don't support increasing ethanol production. Many of my neighbors wouldn't like to hear that.
Corn is already $7 a bushel, record territory. The ag economy is on the verge of overheating like it has done many times over history. Input costs are being driven up by competition as well as fertilizer expenses. With corn at $7 the demand for fertilizer is extremely high. The large farmers will expand and squeeze out smaller producers. Demand for farmland is insane, these high prices are intoxicating for both farmers and land owners.
Crop insurance makes in nearly impossible to have a financial loss since you can lock in yield and price guarantees. I'm not against ethanol but this is probably the craziest time I can think of for increasing its use. Current corn prices are very profitable for farmers right now.
If corn isn't used for ethanol it is used to feed livestock such as beef, pork and poultry. Like it should be. Have you priced meat in the stores lately ? A lot has to do with the price of feed, along with increased transportation and processing costs.
This is a personal opinion, I'd rather see our country use fossil fuels in an efficient manner for power, and our crops as a food source. Focus on domestic fuel production to ease our dependence on foreign oil instead of taking a food source.
And I own a corn farm...
Bingo ..You win!