Jason Henderson discusses the cause of raising corn and food prices.
Although many will assume that the rising price on corn is due to ethanol usage, the reality is that America is capable of supply the whole nation for 127 days. Now that's a lot of kernels of truth. Dependence on foreign oil is the true culprit. As the price per barrel of oil rises, as does the price per bushel of corn. Transportation of goods begins to take its toll on consumers as corn becomes more difficult to attain. In Jason Henderson's paper, he addresses how the increasing price of crude oil and other attributes indirectly result with the inflation of corn.
Excerpt from The Colbert Report, October 10, 2012
An astonishing truth about the corn and the agricultural industries reported by Stephen Colbert.
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