Duh! What you subsidize you get more of, what you tax you get less of.
" Lehman Brothers analysts are estimating the surplus at about 1 million gallons per day starting in the second half of 2007."
From the Detroit Free Press
June 21 Is Discount Day for E85 Fuel in Iowa
From Wallaces Farmer
Booming US ethanol industry facing a stumble
"We expect the relentless supply of new ethanol production capacity will lead to a 70 per cent decline in margins by 2009,"
LOWEST FOOD SUPPLIES IN 50 OR 100 YEARS: GLOBAL FOOD CRISIS EMERGING
"Today, the United States Department of Agriculture (USDA) released its first projections of world grain supply and demand for the coming crop year: 2007/08.
USDA predicts supplies will plunge to a 53-day equivalent—their lowest level in the 47-year period for which data exists."
From the National Farmers Union (Can.)