2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Maurice Winn who wrote (30023)	2/28/2008 1:36:43 PM
From: elmatador	Read Replies (2) of 217815

Bernanke backs lower tariff on Brazil ethanol, help take pressure off food prices. Elmat nods approvingly :-) Federal Reserve Chairman Ben Bernanke said on Thursday he favored cutting high tariffs on Brazilian ethanol to help take pressure off food prices. "As you know, I favor open trade and I think allowing Brazilian ethanol, for example, would reduce costs in the United States," Bernanke told the Senate Banking Committee. Most of the ethanol made in the United States comes from corn, and domestic production is protected from sugar-based Brazilian ethanol by a steep tariff. Bernanke said it was hard to say how much current strong demand for ethanol was boosting food prices. "But it is the case that a significant portion of the corn crop is being diverted to ethanol, which raises corn prices," Bernanke told the panel. "And there's some knock-on effects. For example, some soybean acreage has been moved to corn production, which probably has some effect on soybean prices. So there is some price effect on foodstuffs coming through the conversion to energy use," Bernanke said. (Editing by Jan Paschal)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next