When Joe Biden announced he was lifting restrictions on ethanol being used in fuel, he was hated on by both sides. The radical left called it a betrayal to his climate change pledge. The right said it was too little, too late and that he should be pushing for more drilling across the board. What few people have noted is that this has absolutely nothing to do with lowering gas prices and everything to do with raising food prices.
On the latest episode of The Late Prepper, I dove into this article and accused the Biden regime of knowing exactly what they’re doing to food and gas prices. It’s a mistake to think they’re just incompetent because that would mean we could correct their errors. Knowing that they are fully aware that their actions are going to raise inflation even further allows us to strategize differently.
In the article below by Mary Villareal from Natural News, we get to see how the meat industry is reacting to Joe Biden’s push to use ethanol in fuel at a time when food is becoming so scarce:
Meat producers react as Biden issues emergency waiver that allows selling gasoline with 15% ethanol
President Joe Biden issued an emergency waiver that allows gasoline stations nationwide to sell gasoline with 15 percent ethanol. With the record-high prices and soaring levels not seen since 1981, Biden effectively paused a federal environmental regulation that prohibits this biofuel mixture in the summer to limit smog.
Biden’s action, however, could lead to higher meat prices due to the increased demand for corn.
Heritage Foundation senior research fellow Daren Bakst said this would certainly drive up food prices and hurt meat producers who rely on feeds. Corn and soybean meal is used to feed livestock and serves as the largest cost for chicken producers.
“Further and artificial demand for corn created by this administration will likely increase the cost of corn and all food products dependent on corn and corn oil inputs,” said National Chicken Council President Mike Brown.
“What it does at the gas pump we shall see … but at what expense to consumers in the grocery store who are already dealing with the highest inflation in 40 years?”
At the end of the day, Brown said ethanol manufacturers win and consumers lose.
Overall inflation increased 8.5 percent year-over-year in March, the highest such jump in over 40 years as per federal data. Food prices surged even higher at a rate of 8.8 percent between April 2021 and March 2022, the largest 12-month increase since 1981. (Related: Inflation surges by 8.5% to 40-year high, disproving White House claims it wouldn’t go higher than 2.2%.)
The price of corn, however, has surged 37.8 percent from $3.97 to $5.47 per bushel between December 2020 to December 2021, and corn futures have surged more than 44 percent relative to their December price in the wake of Biden’s announcement.
Long-term solution needed, not short-term political fixes
A representative of the oil industry also criticized the Biden administration for the decision. Ron Chit, a spokesman for the American Petroleum Institute, said Americans are looking for long-term solutions and not short-term political fixes.
Heartland Institute President James Taylor said: “Burning food for fuel makes no sense at all when the Biden administration and others warn of widespread upcoming food shortages as a result of the Russian invasion of Ukraine.” He also mentioned that it’s as if the Biden administration is deliberately calculating how to make food-price inflation worse.
The Ukraine crisis has already triggered a global food supply shortage that experts believe could still worsen. Meanwhile, the National Cattlemen’s Beef Association (NCBA) previously characterized the 2005 renewable fuel standard program as a government policy that is picking one industry over the over. It mandates that energy providers replace a certain amount of petroleum-based products with renewable fuel, including ethanol.
Some groups are in favor of Biden’s action, however, saying criticism from meat groups was a “red herring” and that it would have little impact on corn supplies.
At present, there are more than a billion gallons of ethanol in storage and farmers still intend to plant 89.5 million acres of corn in 2022.
Andrew Walmsley of the American Farm Bureau said this is not a “one or the other” issue, adding that the United States has the resources to produce homegrown, renewable fuels while also meeting the demand of ensuring there is food on the table and that livestock are fed.
Moreover, according to Walmsley, the Ukraine crisis and supply chain issues are the main culprits for higher global food prices. (Related: Russia-Ukraine war will further worsen global food shortage as poor nations face starvation, unrest.)
“The amount of corn needed to meaningfully expand E15 this summer is minuscule,” said Troy Bredenkamp, senior vice president for government and public affairs at the ethanol advocacy group Renewable Fuels Association. He also mentioned that the amount of corn needed to double the current E15 use is equivalent to only 0.3 percent of last year’s corn crop.
The impact of the E15 waiver on grain markets would essentially be undetectable, but the impact on pump prices could be substantial, said Bredenkamp. “While every additional gallon of E15 sold will help relieve very tight fuel supplies, especially as the summer driving season gets into full gear, clearly there will only be a slight incremental effect on corn prices and no change in U.S. retail food prices.”
Follow Bubble.news for more stories about inflation and the U.S. economy.
Watch this video to learn more about the ethanol industry.
This video is from the TruthBeTold channel on Brighteon.com.
More related stories:
One Sick Day Proves We Need More Voices in Truthful Media
On October 19, I was sick. It crossed my mind that I had finally gotten the ‘rona, but my wife’s cream of chicken soup and a few extra hours of sleep into mid-afternoon had be back up and running after a sleepless night before.
When I finally stumbled over to my computer in the evening, I was met with a deluge of concern from readers. They asked what had happened as only one article had been posted that day. Generally, we post between 10-20 daily between all of the sites, not included curated and aggregated content. Seeing that we’d only posted my super-early morning article before taking the rest of the day off had readers assuming the worst.
We have a wonderful and talented group of writers who volunteer their time for the sites and their readers. Sharing their amazing perspectives has always been a blessing to us because we cannot afford to hire anyone at this time. But having great writers is meaningless if we don’t have great editors, or at least one additional. My wife helps me read and edit stories from time to time, but I’m a one-man show when it comes to getting the stories posted.
Whenever I highlight our desperate need for donations, I note that we do not receive money from Google ads even though most in conservative media are beholden. I often ambiguously note that the money donated will help us grow. Today, I’m highlighting a specific need. We must get an editor to help take some of the load and to expand on our mission of spreading the truth to the world. One sick day proved that.
The great news is that there is no shortage of people who CAN help. I am emailed variations of resumes every week by people who are much smarter than I am. As much as I’d love to hire some of them, we simply cannot. That takes money and as blessed as we’ve been to receive donations and collect ad money (though not from Google or Facebook), we have still fallen short.
Those who have the means, PLEASE consider donating. We have the standard Giving Fuel option and people can donate through PayPal. We are also diving into what we believe is extremely disruptive technology at LetsGo.finance, the world’s first major donation portal for crypto. I’ll be talking a lot more about them in the near future. Those who prefer Bitcoin can send to my address here: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
We can get the voices out there and we’re willing to shine a spotlight on new talent. We just need the resources to make it happen. If you can help, we would be extremely grateful.
Thank you and God bless!
All ORIGINAL content on this site is © 2021 NOQ Report. All REPUBLISHED content has received direct or implied permission for reproduction.
With that said, our content may be reproduced and distributed as long as it has a link to the original source and the author is credited prominently. We don’t mind you using our content as long as you help out by giving us credit with a prominent link. If you feel like giving us a tip for the content, we will not object!
JD Rucker – EIC