Dinneen: Oil is the primary driver of food price hikes

05/15/2013 | EthanolProducer.com

The ethanol industry must do a better job of telling the American public and policymakers that corn-based ethanol production is not driving up food prices, writes Bob Dinneen, president and CEO of the Renewable Fuels Association. The price of oil is what drives up food prices because "[e]very step of the food supply chain is reliant on petroleum products," Dinneen states. Further, the average rate of food price inflation since the passage of the Renewable Fuel Standard has been lower than the average for the preceding two decades, Dinneen notes.

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