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Wednesday, April 7, 2010 as of 11:14 AM ET

The Casone Exchange
  • April 30, 2008 01:23 PM UTC by Cheryl Casone

    Let Them Eat Cake

    So, I’ve got Paris on the brain, that is fair, but I also have world hunger on my mind. I interviewed Steve Mufson from The Washington Post this morning. He covers the energy industry, and he also wrote a book called “Energy Wire.” He went down to Iowa to investigate corn production levels, and the effect it is having on food and energy prices.

    Ok, so we don’t consume a lot of corn as humans, but we DO consume beef, chicken, and pork, and those animals are fed corn feed and other grains. When Iowans jumped on the bandwagon to throw out their wheat and soybean crops to replace it with corn, the supply went down, and prices went up. So, meat producers pass the price on to you. We keep making ethanol (which hasn’t lowered oil prices) and now countries like Brazil are trying to fill our supply void by cutting down the Amazon rainforest and planting soybeans.

    So, I’ve got Paris on the brain, that is fair, but I also have world hunger on my mind. I interviewed Steve Mufson from the Washington Post this morning. He covers the energy industry, and he also wrote a book called “Energy Wire.” He went down to Iowa to investigate corn production levels, and the effect it is having on food and energy prices.

    Ok, so we don’t consume a lot of corn as humans, but we DO consume beef, chicken, and pork, and those animals are fed corn feed and other grains. When Iowans jumped on the bandwagon to throw out their wheat and soybean crops to replace it with corn, the supply went down, and prices went up. So, meat producers pass the price on to you. We keep making ethanol (which hasn’t lowered oil prices) and now countries like Brazil are trying to fill our supply void by cutting down the Amazon rainforest and planting soybeans.

    043008_foxbusiness_casone_corn.jpg

     So much cause leading to effects. Thoughts?

    CC
     

Tumbler

Well Cheryl, for someone that thinks there is no value to the penny, (the ENTIRE stock market is traded to the penny, btw, and elimination of which would cost the economy hundreds of billions per year) I am surprised that you do understand, albeit too late, that there is a cause and effect to encouraging Brazilian soy production for a net energy loser, ethanol, at the expense of breathable oxygen produced by the rain forest, hehe

May 9, 2008 at 12:52 pm

stuart lane

I will have restless sleep tonight because i am so frustated about the ethanol issue. One of sources of my frustation is the complete lack 0f any knowledge about production agriculture by business commentators and journalist , aswell as the general public.IF my general knowledge of an ethanol production is correct corn is ground and fermented producing alcohol and other by products such carbon dioxide which is used in the beverage industry. Another byproduct is ddg which is an excellent feed for cattle. The only part used of a kernel of corn is the starch. I haven't heard of corn starch hoarding yet but have my comments be validated and see a run on starch.I have grown corn since i was big enough to hold a hoe.In the last three years my inputs such as diesel fuel ,fertilizer,seed and other inputs have doubled or tripled. I guess what most people want is there producers to work seven days a week in one of the most dangerous occupations , exposing our families to finacial risk while you all enjoy the fruits of our labor. Behind every loaf of bread , every gallon of milk, every can of vegetables you choose stands a farmer . Please stop the insult to us ,acting as if you cannot figure out why food prices are rising. Sorry folks,the gravy train hss just left the station and you are not on it. Wait till meat prices catch up to other commodities, then there will be some real belly aching,literally.

May 1, 2008 at 10:26 pm

Mike

These comments are worthy of repeating!

May 1, 2008 at 4:50 pm

Joan Wieser

I can't help but wonder if Mr. Mufson did any research into DDGs. Because no news report that I'm reading these days sees fit to mention them, I suggest they are being ignored. If you really want to be informed then maybe you should check the results of the latest study on DDGs and the livestock industry that was just done by South Dakota State University. As with all folks who do not live on a farm or are not involved in agriculture, you don't have a clue as to what really happens and depend on the press to present the facts to you. Wheat acres have steadily gone down in this country for the past 20 years. Why? Because we farmers can't possibly break even on it. Farmers as a group warned the U.S. 20 years ago that we would get to this point and here we are. If you want to write about farms, farmers and anything related to them, go get the facts from the source.

May 1, 2008 at 8:53 am

Ray Messick

As with all things, some people have paid enough attention to recognize what the real problems are, and are practical enough to agree to solutions that are possible today. Other people, mostly liberal, will not agree to solve problems with today's technology- they want future solutions that are not possible today, and continue to say NO to meeting the current needs of our society. As Mr. Spock would say, this is not logical. We should use our technology to meet current needs for energy, and make it clear that we expect the oil companies to get the oil out of the ground without contamination of the areas being explored. If contamination occurs, then serious fines will result. We are technically smart enough to do what is needed, but lack the will to do so. If we were sufficiently intelligent, then willpower and leadership would exist in more people than it does today. But it doesn't. Instead, they're watching American Idol.

April 30, 2008 at 6:52 pm

mark smith

Cheryl, your right about this, people in the real world can see this, bush admin. and the greedy not so much.

April 30, 2008 at 5:11 pm

Justin

It was a shorted sighted move by our government. Free markets work if you allow them to do so. Unfortunately, our government seems to create more problems every time it tries to fix an existing problem. I'm just glad that I don't rely on the supermarket as a cheif food provider. I just don't understand how people can still starve to death in this day and age. As a Christian, I am sympathetic to the poor and through my church I give generously, but are some countries so culturally inferior that people can't even manage to feed themselves, all the more reproducing like rabbits? It's by the grace of God I've never known hunger to the extent that many in impoverished regions of the world face, but what factors keep people from at the very least living as nomadic hunter gatherers? Who would choose starving to death in a drought stricken land vs. finding a more hospitable area to inhabit? Maybe there's something I don't get.

April 30, 2008 at 4:26 pm

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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