Food and Fuel America.com Weekly Summary, May 10, 2008
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Weekly Summary - May 10, 2008
http://www.foodandfuelamerica.com
" Good and Balanced Food and Fuel News!"
Saturday, May 10, 2008
Higher Fuel Costs Go Postal
The higher price of gas will affect more than just the cost of food
and consumer goods. Now higher fuel costs are going postal.
On Monday, May 12, 2008, the US Postal Service (USPS) will raise
postage prices.
The cost to mail a U.S. First Class one-ounce letter will increase to
42 cents while the postcard will increase to 27 cents.
This postage increase covers higher operating expenses. USPS has
incurred higher operating costs due to rapidly escalating fuel prices,
as well as rising medical, transportation and other higher expenses. A
one-cent increase in fuel costs USPS more than $8 million in higher
fuel costs per year. USPS receives no tax dollars for its operations
and relies on the sale of postage, products and services to cover its
costs.
For detailed information on the new U.S. and international postage
rates and a listing of prices, visit to www.usps.com/prices.
Source: US Postal Service
READ MORE
* Gas Rebate Checks Coming Soon
* IRS Reacts to Higher Gasoline Prices
* Food Price Problem: Outrageous Oil
* Gasoline Prices Rise and So Does Everything Else
* $ign of the Times
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 2:14 AM 0 comments
Categories: Big Oil, Energy
Friday, May 9, 2008
Senators Put Consumers First
This week Senate Democrats introduced the Consumers-First Energy Act
of 2008, a bill that addresses the root causes of high gas prices to
strengthen the nation's economic, energy and national security.
The new energy package would revoke $17 billion in tax breaks extended
to big oil companies like ExxonMobil and levy a 25 percent windfall
profits tax on firms that refuse to invest in new energy sources.
US Senate Consumers First Energy Big Oil
Senate Majority Leader Harry Reid and Senators Jeff Bingaman, Max
Baucus, Charles Schumer, Byron Dorgan, Maria Cantwell and Bernie
Sanders unveiled the proposed legislation that addresses the root
causes of high gas prices.
According to Reid: "Instead of helping Big Oil make more money at the
expense of average Americans, we are forcing oil companies to change
their ways. We will hold them accountable for unconscionable price-
gouging and force them to invest in renewable energy or pay a price
for refusing to do so."
Key provisions of the new bill include:
* Roll Back Tax Breaks for Oil Companies and Invest in Renewable
Energy - In 2004 and 2005, the Big Oil companies received tax breaks
worth $17 billion over 10 years. The Consumer-First Energy Act will
roll back $17 billion in tax breaks for oil and gas companies and
instead invest those taxpayer dollars to improve consumer price
protection, renewable energy development and energy efficiency
technology through a designated Energy Independence and Security Trust
Fund.
* Force Big Oil to Pay Their Fair Share through a Windfall Profits
Tax - The proceeds of the tax will be invested in consumer price
protection, renewable energy development and energy efficiency
technologies through a designated Energy Independence and Security
Trust Fund.
* Halt Government Purchases of Oil for the Strategic Petroleum
Reserve - The Consumer-First Energy Act calls for suspending through
December 2008 oil purchases for the SPR. Filling could resume when the
90 day average price of crude oil recedes to $75 or less.
* Protect Consumers from Price Gouging - The Consumer-First Energy
Act would give the President the authority to declare an energy
emergency should there be a shortage, disruption or significant
pricing anomalies in the oil market.
* Stop Market Price Speculation - First, the bill prevents traders
of U.S. crude oil from routing transactions through off-shore markets
to evade speculative limits and sets forth reporting requirements. The
bill also requires the Commodities Futures Trading Commission to set a
substantial increase in the margin requirement for all oil futures
trades, contracts or transactions.
* Stand Up to OPEC - OPEC's near-monopolistic control over oil
prices has lead to record oil prices which have driven up the cost
Americans pay at the pump. The Consumer-First Energy Act allows the
U.S. Attorney General to bring an enforcement action against any
country or company that is colluding to set the price of oil, natural
gas, or any other petroleum product.
Energy experts also sided with the new proposals. "The Consumer-First
Energy Act is not a gimmick," said Robert B. Reich, former U.S.
Secretary of Labor. "It will genuinely help cut the price of gas at
the pump, and it's exactly what hard-pressed Americans need right
now."
Source: US Senate Democrats
READ MORE
* Congress Learns Reasons for Rising Food Costs
* Food Price Problem: Outrageous Oil
* Rising Gas Prices Hurting Small Businesses
* Oil Squeezes the Less Affluent
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 3:46 AM 0 comments
Categories: Big Oil, Energy
Thursday, May 8, 2008
Food Price Problem: Outrageous Oil
Why are food prices on the increase?
The Illinois Farm Bureau wants to provide consumers with the proper
answers.
A new website, Farmingforyou.org, explains the five major reasons food
prices are on the rise: Energy, Inflation, Demand, Weather and Labor
Energy prices are the #1 reason your grocery bill is higher. And the
new site offers additional information why:
Gas Tanks
Truck drivers who bring food to the grocery store have taken a
beating at the gas pump- even more than you have. The cost of diesel
has jumped twice as much as regular unleaded gas. To keep on truckin,'
trucking companies need to pass some of that increase onto food
companies, grocery stores, and the end consumer.
Oil-Based Products
Everything from Styrofoam egg cartons to plastic wrapping around
juice boxes is made from petroleum. Food companies try to absorb as
much of this costs as possible, but sometimes they need to raise
prices to recoup.
Electric Bills
Is your budget billing going up? You're not alone. Food companies
have to pay more for the electricity they use to process and package
the food so that it is safe and convenient for you.
Check all of the sections on the new site for additional information
on why food costs are increasing and what you can do to minimize the
impact to you.
Source: IL Farm Bureau
READ MORE
* Energy Prices Play a Larger Role in Cost of Food
* Gasoline Prices Rise and So Does Everything Else
* Congress Learns Reasons for Rising Food Costs
* Inflation Surges Due to Fuel Prices
* Big Oil's War on Ethanol
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 12:46 AM 0 comments
Categories: Energy, Food Costs
Wednesday, May 7, 2008
Food vs Fuel: A Global Myth
Robert Zubrin and Gal Luft have an opinion piece in the Chicago
Tribune that outlines the reasons why the food versus fuel debate is a
global myth. Worth reading and sharing with biofuel friends and foes
alike.
"Here are the facts. In the last five years, despite the nearly
threefold growth of the corn ethanol industry (or actually because of
it), the U.S. corn crop grew by 35 percent, the production of
distillers grain (a high-value animal feed made from the protein saved
from the corn used for ethanol) quadrupled and the net corn food and
feed product of the U.S. increased 26 percent.
Contrary to claims that farmers have cut other crops to grow more
corn, U.S. soybean plantings this year are expected to be up 18
percent and wheat plantings up 6 percent. U.S. farm exports are up 23
percent.
America is clearly doing its share in feeding the world.
Agriculture is not a zero-sum game. There are 800 million acres of
farmland in the U.S., and only about 30 percent of it is actually
being used to grow anything. As a result of the ethanol program, the
corn price received by farmers doubled over the last five years,
causing a huge increase in the amount grown in terms of acreage and
yield.
The increased demand for food from the hundreds of millions of
people in China and India rising out of poverty and moving to a more
calorie-rich diet affects the price of food the most. Second is the
price of fuel.
Higher fuel prices increase the cost of production, transport,
wages and packaging, the main cost of retail food."
READ MORE
* Energy Victory Through Competition
* New Texas A&M Study Shows Higher Oil Prices are Impacting
Consumer Prices
* New Report Shows Ethanol Lowers Gas Prices
* Food vs. Fuel Is Rhetoric
* Biofuel Myths vs Facts
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 6:50 AM 0 comments
Categories: Ethanol, Food Costs
Tuesday, May 6, 2008
Gasoline Prices Continue to Soar Upwards
The average price of gasoline continues to soar upward as crude oil
prices continue to reach record highs.
The average price of gasoline in the US this week is $3.613 a gallon.
This is up nearly 56 cents from last year and 1 cent from last week.
energy advisory alert high price of gasoline gas oil America
The average price of diesel is nearly $4.15 a gallon, up nearly $1.35
from a year at this time.
High retail prices continue to fuel consumer inflation across America.
Oil, a key component of many products and services, raises the prices
of most goods and services including food.
Due to the staggering high price of oil and gasoline, the American
Energy Advisory Alert remains: SEVERE
Source: Department of Energy
READ MORE
* Pumping Up Gas Prices
* New Texas A&M Study Shows Higher Oil Prices are Impacting
Consumer Prices
* Biofuel Myths vs Facts
* New Report Shows Ethanol Reduces Gas Prices
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 12:35 AM 0 comments
Categories: Energy, Ethanol
Monday, May 5, 2008
Getting a Bum Rap
BusinessWeek has an informative article, "Is Ethanol Getting a Bum
Rap?", that is worth reading which looks at the recent attention
concerning the biofuel.
First, a reality check on corn ethanol, which isn't quite the
villain critics make it out to be. Last year, American farmers grew a
record 13.1 billion bushels of corn on 85 million acres. Of that, 22%
went to make about 7 billion gallons of ethanol. That still left
enough corn to supply the domestic market, increase exports to record
levels, and stockpile a 10% surplus.
Whew. At least someone looked at the facts instead of rehashing the
news release from the American Petroleum industry that we're at the
apocalypse unless we burn more fossil fuels.
Source: BusinessWeek
READ MORE
* Give Ethanol a Chance: The Case for Corn Based Fuel
* Big Oil's Big Stall on Ethanol: Keep E85 Out of Driver's Tanks
* Biofuel Myths vs Facts
* OPEC to World: No More Oil for You!
* US Spy Chief Warns of Oil Threat from Russia, China and OPEC
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 5:12 AM 0 comments
Categories: Ethanol
Sunday, May 4, 2008
***Food and Fuel Quiz, 5-4-08***
Food and Fuel in The News
Weekly Trivia Quiz, May 4, 2008
How good are you at Food and Fuel trivia for the week? Try our new
weekly trivia quiz. Answers and scoring below the questions. Post your
scores in the comments. Good luck!
1. According to the Congressional Research Service, what was the
average Return on Equity for the major oil companies in 2007?
2. According to that same report, ExxonMobil had an even higher ROE.
What was it?
3. In testimony before Congress, Dr. Mark Cooper with CFA said that
high gasoline prices were the result of an international oil cartel
and what else?
4. The average price of gasoline this week was $3.603 cents. True or
False.
5. President Bush called the $1.40 increase in gas price a) "no big
deal" b) "chump change" or c) "a tax increase on the working people"
6. Senator Charles Schumer noted in opening statements before a
Congressional hearing concerned about rising food costs that "gas
prices have done what since 2001"?
7. During that same Congressional hearing, the USDA chief economist
said what was a bigger impact on food prices than ethanol?
8. US Agriculture Secretary Ed Schafer said many things were
responsible for rising world food prices, including low yields,
weather and what?
9. General Motors invested in another ethanol company this week,
Mascoma. What was the name of the firm they partnered with earlier in
the year?
10. There are 7 million Flex Fuel Vehicles (FFV) in the US today. How
many are GM brand?
BONUS QUESTION: (also worth 10 points)
B1. The Hummer HX concept vehicle, which can run on E85 ethanol,
appears similar to a vehicle in what successful video game series?
SCORE
Earn 10 points for each correct answer.
100 points : Food and Fuel Champ
80-90 points : Great! Keep it up.
60-70 points : Good, but you can do better.
10 - 50 points : Need to visit the site more often
0 points : Are you working for Big Oil?
ANSWERS
1. 22.7%
2. 33.4%
3. Tight domestic refining oligopoly
4. True
5. c) "A tax increase on the working people"
6. Doubled
7. Global markets
8. Energy
9. Coskata
10. 3 million GM Flex fuel vehicles
BONUS
B1. HALO (for the XBox)
READ MORE
* Previous Quizes
* Biofuel Myths vs Facts
* Big Oil's War on Ethanol
* Find Alternative Fuel Locations
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 11:49 AM 0 comments
Categories: Quiz
Sunday, May 4, 2008
Big Food Opposes Food Safety Funding Efforts
Big Food companies represented by the Grocery Manufacturers
Association are asking sympathizers to contact Congress to oppose
funding better inspection and safer foods for American consumers
through user fees on imported foods.
According to the email the GMA wrote to send to Congress, this is a
Big Food money issue: "Raising taxes on imported foods, as proposed in
H.R. 3610, would place a costly new burden on food companies"
Representative John Dingell Food Safety FDABuying only American food?
You should pay more to fund inspections of foreign food according to
GMA's leaders such as Campbell Soup, Del Monte Foods, Nestle, Sara
Lee, Hormel and H.J. Heinz.
Michigan Representative John Dingell, Chairman of the House Committee
on Energy and Commerce praised others involved with the legislation in
working to build a better and safer FDA inspection system for
Americans:
"I am pleased to note the drug industry's willingness to work with
us in addressing these problems. While we may differ on the details,
in marked contrast to food manufacturers, the drug industry appears to
recognize that a safer drug supply is not only in the interest of the
public health, but also in the interest of their bottom line."
More information regarding the proposed legislation is available in
the Discussion Draft of HR 3610, FDA Globalization Act of 2008
The Biotechnology Industry Organization's written testimony appears to
be in stark contrast with Big Food:
BIO would urge this Subcommittee to ensure that, if new user fees
are created, that the amount and use of any new user fees are set
forth clearly in any new legislation, to ensure both transparency and
accountability. It also is essential that any new inspection user fees
paid by BIO members are not duplicative of existing registration and
establishment fees, and are specifically allocated to inspections of
their facilities, not used to subsidize the inspections of other
regulated parties" establishments.
After years of "blind trust" of Big Food companies, the FDA needs more
funding for inspecting imported foreign food. Americans deserve to
know that their food is safe when purchased from around the world. And
Americans who buy local and domestic foods should not have to pay more
higher taxes to line the pockets of Big Food.
Consumers who want to stay informed on food recalls can visit the USDA
website to see the latest recall information, http://www.fsis.usda.gov/FSIS_Recalls/index.asp
The USDA offers a number of educational programs and websites to
assist consumers in safe preparation of foods. Visit an overview HERE.
READ MORE
* AMI Opposes New Food Safety Initiatives
* Foodmakers Won't Overreact to Food Scares
* Australians Riot Over Baked Beans
* Beef Prices Expected to Fall
* Beef Myths Exposed as Pure Bull
* Energy Prices Play a Larger Role in Food Costs
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 1:27 AM 0 comments
Categories: Food Safety
Weekly Summary - May 10, 2008
http://www.foodandfuelamerica.com
" Good and Balanced Food and Fuel News!"
Saturday, May 10, 2008
Higher Fuel Costs Go Postal
The higher price of gas will affect more than just the cost of food
and consumer goods. Now higher fuel costs are going postal.
On Monday, May 12, 2008, the US Postal Service (USPS) will raise
postage prices.
The cost to mail a U.S. First Class one-ounce letter will increase to
42 cents while the postcard will increase to 27 cents.
This postage increase covers higher operating expenses. USPS has
incurred higher operating costs due to rapidly escalating fuel prices,
as well as rising medical, transportation and other higher expenses. A
one-cent increase in fuel costs USPS more than $8 million in higher
fuel costs per year. USPS receives no tax dollars for its operations
and relies on the sale of postage, products and services to cover its
costs.
For detailed information on the new U.S. and international postage
rates and a listing of prices, visit to www.usps.com/prices.
Source: US Postal Service
READ MORE
* Gas Rebate Checks Coming Soon
* IRS Reacts to Higher Gasoline Prices
* Food Price Problem: Outrageous Oil
* Gasoline Prices Rise and So Does Everything Else
* $ign of the Times
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 2:14 AM 0 comments
Categories: Big Oil, Energy
Friday, May 9, 2008
Senators Put Consumers First
This week Senate Democrats introduced the Consumers-First Energy Act
of 2008, a bill that addresses the root causes of high gas prices to
strengthen the nation's economic, energy and national security.
The new energy package would revoke $17 billion in tax breaks extended
to big oil companies like ExxonMobil and levy a 25 percent windfall
profits tax on firms that refuse to invest in new energy sources.
US Senate Consumers First Energy Big Oil
Senate Majority Leader Harry Reid and Senators Jeff Bingaman, Max
Baucus, Charles Schumer, Byron Dorgan, Maria Cantwell and Bernie
Sanders unveiled the proposed legislation that addresses the root
causes of high gas prices.
According to Reid: "Instead of helping Big Oil make more money at the
expense of average Americans, we are forcing oil companies to change
their ways. We will hold them accountable for unconscionable price-
gouging and force them to invest in renewable energy or pay a price
for refusing to do so."
Key provisions of the new bill include:
* Roll Back Tax Breaks for Oil Companies and Invest in Renewable
Energy - In 2004 and 2005, the Big Oil companies received tax breaks
worth $17 billion over 10 years. The Consumer-First Energy Act will
roll back $17 billion in tax breaks for oil and gas companies and
instead invest those taxpayer dollars to improve consumer price
protection, renewable energy development and energy efficiency
technology through a designated Energy Independence and Security Trust
Fund.
* Force Big Oil to Pay Their Fair Share through a Windfall Profits
Tax - The proceeds of the tax will be invested in consumer price
protection, renewable energy development and energy efficiency
technologies through a designated Energy Independence and Security
Trust Fund.
* Halt Government Purchases of Oil for the Strategic Petroleum
Reserve - The Consumer-First Energy Act calls for suspending through
December 2008 oil purchases for the SPR. Filling could resume when the
90 day average price of crude oil recedes to $75 or less.
* Protect Consumers from Price Gouging - The Consumer-First Energy
Act would give the President the authority to declare an energy
emergency should there be a shortage, disruption or significant
pricing anomalies in the oil market.
* Stop Market Price Speculation - First, the bill prevents traders
of U.S. crude oil from routing transactions through off-shore markets
to evade speculative limits and sets forth reporting requirements. The
bill also requires the Commodities Futures Trading Commission to set a
substantial increase in the margin requirement for all oil futures
trades, contracts or transactions.
* Stand Up to OPEC - OPEC's near-monopolistic control over oil
prices has lead to record oil prices which have driven up the cost
Americans pay at the pump. The Consumer-First Energy Act allows the
U.S. Attorney General to bring an enforcement action against any
country or company that is colluding to set the price of oil, natural
gas, or any other petroleum product.
Energy experts also sided with the new proposals. "The Consumer-First
Energy Act is not a gimmick," said Robert B. Reich, former U.S.
Secretary of Labor. "It will genuinely help cut the price of gas at
the pump, and it's exactly what hard-pressed Americans need right
now."
Source: US Senate Democrats
READ MORE
* Congress Learns Reasons for Rising Food Costs
* Food Price Problem: Outrageous Oil
* Rising Gas Prices Hurting Small Businesses
* Oil Squeezes the Less Affluent
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 3:46 AM 0 comments
Categories: Big Oil, Energy
Thursday, May 8, 2008
Food Price Problem: Outrageous Oil
Why are food prices on the increase?
The Illinois Farm Bureau wants to provide consumers with the proper
answers.
A new website, Farmingforyou.org, explains the five major reasons food
prices are on the rise: Energy, Inflation, Demand, Weather and Labor
Energy prices are the #1 reason your grocery bill is higher. And the
new site offers additional information why:
Gas Tanks
Truck drivers who bring food to the grocery store have taken a
beating at the gas pump- even more than you have. The cost of diesel
has jumped twice as much as regular unleaded gas. To keep on truckin,'
trucking companies need to pass some of that increase onto food
companies, grocery stores, and the end consumer.
Oil-Based Products
Everything from Styrofoam egg cartons to plastic wrapping around
juice boxes is made from petroleum. Food companies try to absorb as
much of this costs as possible, but sometimes they need to raise
prices to recoup.
Electric Bills
Is your budget billing going up? You're not alone. Food companies
have to pay more for the electricity they use to process and package
the food so that it is safe and convenient for you.
Check all of the sections on the new site for additional information
on why food costs are increasing and what you can do to minimize the
impact to you.
Source: IL Farm Bureau
READ MORE
* Energy Prices Play a Larger Role in Cost of Food
* Gasoline Prices Rise and So Does Everything Else
* Congress Learns Reasons for Rising Food Costs
* Inflation Surges Due to Fuel Prices
* Big Oil's War on Ethanol
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 12:46 AM 0 comments
Categories: Energy, Food Costs
Wednesday, May 7, 2008
Food vs Fuel: A Global Myth
Robert Zubrin and Gal Luft have an opinion piece in the Chicago
Tribune that outlines the reasons why the food versus fuel debate is a
global myth. Worth reading and sharing with biofuel friends and foes
alike.
"Here are the facts. In the last five years, despite the nearly
threefold growth of the corn ethanol industry (or actually because of
it), the U.S. corn crop grew by 35 percent, the production of
distillers grain (a high-value animal feed made from the protein saved
from the corn used for ethanol) quadrupled and the net corn food and
feed product of the U.S. increased 26 percent.
Contrary to claims that farmers have cut other crops to grow more
corn, U.S. soybean plantings this year are expected to be up 18
percent and wheat plantings up 6 percent. U.S. farm exports are up 23
percent.
America is clearly doing its share in feeding the world.
Agriculture is not a zero-sum game. There are 800 million acres of
farmland in the U.S., and only about 30 percent of it is actually
being used to grow anything. As a result of the ethanol program, the
corn price received by farmers doubled over the last five years,
causing a huge increase in the amount grown in terms of acreage and
yield.
The increased demand for food from the hundreds of millions of
people in China and India rising out of poverty and moving to a more
calorie-rich diet affects the price of food the most. Second is the
price of fuel.
Higher fuel prices increase the cost of production, transport,
wages and packaging, the main cost of retail food."
READ MORE
* Energy Victory Through Competition
* New Texas A&M Study Shows Higher Oil Prices are Impacting
Consumer Prices
* New Report Shows Ethanol Lowers Gas Prices
* Food vs. Fuel Is Rhetoric
* Biofuel Myths vs Facts
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 6:50 AM 0 comments
Categories: Ethanol, Food Costs
Tuesday, May 6, 2008
Gasoline Prices Continue to Soar Upwards
The average price of gasoline continues to soar upward as crude oil
prices continue to reach record highs.
The average price of gasoline in the US this week is $3.613 a gallon.
This is up nearly 56 cents from last year and 1 cent from last week.
energy advisory alert high price of gasoline gas oil America
The average price of diesel is nearly $4.15 a gallon, up nearly $1.35
from a year at this time.
High retail prices continue to fuel consumer inflation across America.
Oil, a key component of many products and services, raises the prices
of most goods and services including food.
Due to the staggering high price of oil and gasoline, the American
Energy Advisory Alert remains: SEVERE
Source: Department of Energy
READ MORE
* Pumping Up Gas Prices
* New Texas A&M Study Shows Higher Oil Prices are Impacting
Consumer Prices
* Biofuel Myths vs Facts
* New Report Shows Ethanol Reduces Gas Prices
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 12:35 AM 0 comments
Categories: Energy, Ethanol
Monday, May 5, 2008
Getting a Bum Rap
BusinessWeek has an informative article, "Is Ethanol Getting a Bum
Rap?", that is worth reading which looks at the recent attention
concerning the biofuel.
First, a reality check on corn ethanol, which isn't quite the
villain critics make it out to be. Last year, American farmers grew a
record 13.1 billion bushels of corn on 85 million acres. Of that, 22%
went to make about 7 billion gallons of ethanol. That still left
enough corn to supply the domestic market, increase exports to record
levels, and stockpile a 10% surplus.
Whew. At least someone looked at the facts instead of rehashing the
news release from the American Petroleum industry that we're at the
apocalypse unless we burn more fossil fuels.
Source: BusinessWeek
READ MORE
* Give Ethanol a Chance: The Case for Corn Based Fuel
* Big Oil's Big Stall on Ethanol: Keep E85 Out of Driver's Tanks
* Biofuel Myths vs Facts
* OPEC to World: No More Oil for You!
* US Spy Chief Warns of Oil Threat from Russia, China and OPEC
Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search FoodandFuelAmerica.com
AddThis Social Bookmark Button
Food and Fuel America.com
http://www.foodandfuelamerica.com
Good and Balanced Food and Fuel News!
Posted by Editor at 5:12 AM 0 comments
Categories: Ethanol
Sunday, May 4, 2008
***Food and Fuel Quiz, 5-4-08***
Food and Fuel in The News
Weekly Trivia Quiz, May 4, 2008
How good are you at Food and Fuel trivia for the week? Try our new
weekly trivia quiz. Answers and scoring below the questions. Post your
scores in the comments. Good luck!
1. According to the Congressional Research Service, what was the
average Return on Equity for the major oil companies in 2007?
2. According to that same report, ExxonMobil had an even higher ROE.
What was it?
3. In testimony before Congress, Dr. Mark Cooper with CFA said that
high gasoline prices were the result of an international oil cartel
and what else?
4. The average price of gasoline this week was $3.603 cents. True or
False.
5. President Bush called the $1.40 increase in gas price a) "no big
deal" b) "chump change" or c) "a tax increase on the working people"
6. Senator Charles Schumer noted in opening statements before a
Congressional hearing concerned about rising food costs that "gas
prices have done what since 2001"?
7. During that same Congressional hearing, the USDA chief economist
said what was a bigger impact on food prices than ethanol?
8. US Agriculture Secretary Ed Schafer said many things were
responsible for rising world food prices, including low yields,
weather and what?
9. General Motors invested in another ethanol company this week,
Mascoma. What was the name of the firm they partnered with earlier in
the year?
10. There are 7 million Flex Fuel Vehicles (FFV) in the US today. How
many are GM brand?
BONUS QUESTION: (also worth 10 points)
B1. The Hummer HX concept vehicle, which can run on E85 ethanol,
appears similar to a vehicle in what successful video game series?
SCORE
Earn 10 points for each correct answer.
100 points : Food and Fuel Champ
80-90 points : Great! Keep it up.
60-70 points : Good, but you can do better.
10 - 50 points : Need to visit the site more often
0 points : Are you working for Big Oil?
ANSWERS
1. 22.7%
2. 33.4%
3. Tight domestic refining oligopoly
4. True
5. c) "A tax increase on the working people"
6. Doubled
7. Global markets
8. Energy
9. Coskata
10. 3 million GM Flex fuel vehicles
BONUS
B1. HALO (for the XBox)
READ MORE
* Previous Quizes
* Biofuel Myths vs Facts
* Big Oil's War on Ethanol
* Find Alternative Fuel Locations
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Good and Balanced Food and Fuel News!
Posted by Editor at 11:49 AM 0 comments
Categories: Quiz
Sunday, May 4, 2008
Big Food Opposes Food Safety Funding Efforts
Big Food companies represented by the Grocery Manufacturers
Association are asking sympathizers to contact Congress to oppose
funding better inspection and safer foods for American consumers
through user fees on imported foods.
According to the email the GMA wrote to send to Congress, this is a
Big Food money issue: "Raising taxes on imported foods, as proposed in
H.R. 3610, would place a costly new burden on food companies"
Representative John Dingell Food Safety FDABuying only American food?
You should pay more to fund inspections of foreign food according to
GMA's leaders such as Campbell Soup, Del Monte Foods, Nestle, Sara
Lee, Hormel and H.J. Heinz.
Michigan Representative John Dingell, Chairman of the House Committee
on Energy and Commerce praised others involved with the legislation in
working to build a better and safer FDA inspection system for
Americans:
"I am pleased to note the drug industry's willingness to work with
us in addressing these problems. While we may differ on the details,
in marked contrast to food manufacturers, the drug industry appears to
recognize that a safer drug supply is not only in the interest of the
public health, but also in the interest of their bottom line."
More information regarding the proposed legislation is available in
the Discussion Draft of HR 3610, FDA Globalization Act of 2008
The Biotechnology Industry Organization's written testimony appears to
be in stark contrast with Big Food:
BIO would urge this Subcommittee to ensure that, if new user fees
are created, that the amount and use of any new user fees are set
forth clearly in any new legislation, to ensure both transparency and
accountability. It also is essential that any new inspection user fees
paid by BIO members are not duplicative of existing registration and
establishment fees, and are specifically allocated to inspections of
their facilities, not used to subsidize the inspections of other
regulated parties" establishments.
After years of "blind trust" of Big Food companies, the FDA needs more
funding for inspecting imported foreign food. Americans deserve to
know that their food is safe when purchased from around the world. And
Americans who buy local and domestic foods should not have to pay more
higher taxes to line the pockets of Big Food.
Consumers who want to stay informed on food recalls can visit the USDA
website to see the latest recall information, http://www.fsis.usda.gov/FSIS_Recalls/index.asp
The USDA offers a number of educational programs and websites to
assist consumers in safe preparation of foods. Visit an overview HERE.
READ MORE
* AMI Opposes New Food Safety Initiatives
* Foodmakers Won't Overreact to Food Scares
* Australians Riot Over Baked Beans
* Beef Prices Expected to Fall
* Beef Myths Exposed as Pure Bull
* Energy Prices Play a Larger Role in Food Costs
Never Miss a New Article--> Subscribe to updates by Email
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Good and Balanced Food and Fuel News!
Posted by Editor at 1:27 AM 0 comments
Categories: Food Safety
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