Word: ethanol
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...landmark deal to reduce energy consumption, promote renewable power and cut carbon emissions. Hammered out at a regional summit in Milwaukee, the pact calls for a 2% reduction in energy use by 2015, with a 2% cut every year after that; an increase in the availability of a cleaner ethanol-gasoline mix known as E85; and 10% of the region's electricity to come from renewable sources by 2015, with an increase to 30% by 2030. The plan also calls for reductions in greenhouse gases - though no firm targets - and the establishment of a regional cap-and-trade system...
...largely to the fact that many of the states rely heavily for power on coal, the most carbon-rich fuel (71% of the region's electricity comes from coal, compared to 49% nationwide). The deal isn't perfect. Too much emphasis is placed on biofuels, especially the corn-based ethanol that has made some farmers in the region rich, but which is of questionable environmental value at best. But the very fact that governors of red states like Kansas would agree to sign a pact that has anything to do with climate change raises hope that the issue can transcend...
...Indeed, Wednesday, he reminded the listeners of Radio Iowa that "'politics of hope' he's been talking about don't mean that things come easy - or that there won't be a fight." Thursday, he said of Clinton's ethanol position, "If she's willing to shift this quickly on this issue, we don't know whether she will shift back when it gets hard," then dinged her on Iran: "Just remember who got it right and who got it wrong in the most important decision...
CORN $3.52 per bu., up from $1.81 in 2005. The increase is mostly due to the ethanol boom...
...more efficient, and that's not going to stop." The Environmental Working Group's farm-subsidy database shows that Ebbersons in the area collected $3 million in crop aid over the past decade. Craig used that money to snap up more land, expand his feedlot, invest in a nearby ethanol plant and buy gizmos that track his fertilizer and pesticide use and the food and drug intake of every cow. It's no accident that agriculture's productivity growth consistently outpaces the rest of the economy--or that farms with million-dollar revenues are the fastest-growing agricultural sector...