As the worst drought in over a half century took its toll, investors went on a buying spree, boosting corn prices by more than 50 percent from late May to fresh record highs above $8 per bushel. The U.S. government on Friday released fresh crop data that revealed shocking cuts for this year's grain and oilseed output as the drought spread through America's breadbasket.So, the obvious response is to stop putting the stuff into gasoline, right? I mean, E10 -- that is, the gas blend that contains ten-percent-ethanol -- is incredibly destructive to small engines, and it's driving food prices up at a time when grain prices are already ruinously high. There's just no excuse for continuing our current policy.
Naturally, then, we'll be making a change in that policy.
The U.S. Environmental Protection Agency will require all consumers to buy at least four gallons of gasoline from certain gas pumps after the new E15 ethanol-gasoline blend is introduced into the market.Of course. I should have known that would be the solution.