Death notice: U.S. Corn Ethanol Production Subsidy, age 30. Expired on December 31, 2011. Unmourned by all but the most callous corn lobbyists. Subsidies added costs to fuel and groceries, put more Americans on food stamps, and increased world hunger and starvation. Good politics in Iowa, though.
“Over the past 30 years, the federal government has given an estimated $45 billion to the corn industry to help support ethanol production. In 2011 alone, those subsidies totaled about $6 billion, or about 45 cents for every gallon of ethanol. “
— Bruce Watson, AOL Daily Finance
Short Link: http://wp.me/p6sb6-cdh
Image (“Food From Corn, after a 1918 poster by Lloyd Harrison”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com
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