House Cuts EPA Funding, Ethanol Official Questions Cause of Food Price Increases
- A House Subcommittee approved legislation last week to cut EPA’s funding by nine percent while stopping the agency from finishing carbon pollution regulations for power plants.
Subcommittee Chair Ken Calvert of California says there is a great deal of concern over the number of regulatory actions being pursued by EPA in the absence of legislation and without clear congressional direction. That is why the bill includes a number of provisions to address these concerns and stop unnecessary damaging regulatory overreach by EPA.
- Time and again Growth Energy CEO Tom Buis says big oil, big food and special interests have attacked the ethanol industry blaming it for increasing food prices.
Buis says, looking at the facts, nothing could be further from the truth.
There has been a recent surge in ethanol production while Buis says corn prices have been falling now trading at $3.99, half the cost of what it traded for two-years ago. However he says food prices continue to rise because the cost of oil continues to climb according to a recent World Bank Study.