Corn DogsFuel prices are at record highs, so why are ethanol producers struggling?

By Daniel Gross
Posted Wednesday, May 7, 2008, at 6:23 PM ET
Slate.com

The continuing crisis over high food prices has inspired a round of global finger-pointing. Politicians blame speculators, and speculators blame the Federal Reserve. Free-traders blame countries with agricultural subsidies, and countries with agricultural subsidies blame free-traders. And everyone blames the ethanol industry: The current mania to turn food crops, especially corn, into gasoline is pushing up the global price for maize, crowding out the production of other crops and generally creating an unfair competition between gas tanks in Missouri and poor consumers in Mumbai.

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