Report: Energy costs, foreign oil behind food costs

The production of ethanol from corn has had minimal impact on consumer food prices while reducing fuel costs to consumers across the country, according to a report released today.

Senator Ben Nelson (D-Neb.), chairman of the Ethanol Across America education campaign, hailed a new issue brief titled, The Impact of Ethanol Production on Food, Feed and Fuel, as a calm voice in a debate that has become confused due to misinformation. Here's a news release.

“While there is new demand for corn and other agricultural products resulting from our effort to produce biofuels, we are seeing increased yields and a likely leveling of prices. We are also working hard to diversify our biofuel production by utilizing new feedstocks that range from specialty energy crops to waste materials,” Nelson said.

He added: I think we are losing sight of the big picture and our pressing needs of producing our own energy, reducing greenhouse gases, creating jobs across the U.S., and revitalizing rural America. Through the ethanol program, we are not only producing ethanol and animal protein from corn, but the same process can provide food fit for human consumption as well. Corn ethanol is one step towards energy independence and it is a step that benefits all consumers.

For a copy of the report, click here.