Tuesday, April 19, 2011

Food or Fuel?

By Glen Beck
"US farmers plans 92.2 million acres of food this year, 4 million more than last year. Yet our corn supply is nearing a 15 year low. Why is that? Why are we having problems with food?. We have 15 to 18 days supply in our silos. If there is any kind of disruption in our chain, we've got problems."

US corn usage is increasingly being drawn away from the food supply for making ethanol. In fact, 37% of the US corn production now goes to ethanol production while only 8.3% goes to food. (The rest going to exports or other uses - textiles, plastics, etc)

One global shock and both our food and fuel distribution could be dramatically affected.

http://video.foxnews.com/v/4651039/beck-food-or-fuel

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