US and its rising Ethanol Production

Scientific Study from the year 2007 in the subject Politics - Region: USA, The University of Sydney (Faculty of International Relations), language: English, abstract: The US and its rising Ethanol Production Abstract:In the 2007 State of the Union address,1 US President Bush called on the country to produce 35 billion gallons of biofuel a year by 2017. President Bush s proposal to increase biofuel production will dramatically increase the volume of corn required by the US ethanol industry and will translate into higher prices for both processed and stable foods around the world. Consequently, corn-based ethanol will continue to tie oil and food prices together in ways that will profoundly upset the relationship between food producers and consumers, with potentially devastating implications for global poverty. In addition, it will only replace a small percentage of US fuel consumption. ANALYSIS: 1. The US Ethanol Market 2. Impacts for the US and world Agriculture3. Increased US corn (food) prices and its effects 4. US Ethanol production- dependence oil and environmental benefits 5. Conclusion