Summary
The editorial "Stop 'Big Corn' " (Opinion, Monday) did not accurately describe the analysis of ethanol policy conducted by our institute.
The editorial says we at the University of Missouri's Food and Agricultural Policy Research Institute estimate that the ethanol blender's tax credit increases the price of corn by "18 cents per barrel." This appears to be a reference to a report we issued in March that looked at the impact of extending the 45-cents-per- gallon ethanol tax credit, the 54-cents-per-gallon ethanol tariff and the $1-per-gallon biodiesel credit. We estimated that the combined effect of these three policies would be to raise the average producer price of corn by 18 cents per bushel during the 2011-12 corn-marketing year. Individually, each of these policies would have a smaller impact on corn prices.See the full content of this document
Extract
Ethanol Fumes
In addition, the editorial says the Environmen...
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