How should the three presidential candidates, in particular, address this crisis?Read the entire column here.
For starters, the United States should retreat from its heavy promotion of corn-based ethanol and allow the markets to settle. Although the 2008 U.S. Farm Bill, passed by the House and Senate last week, includes a reduction in the ethanol blending credit from 51 cents to 45 cents per gallon, the subsidy remains high and is offset by other biofuels production incentives.
President Bush plans to veto the bill, but both the House and Senate passed it with more than the majority needed to overturn a veto. Presidential candidates Sens. John McCain, Barack Obama and Hillary Rodham Clinton, were all absent for the vote.
Monday, May 19, 2008
Headline "When Cars Compete with People for Food":