Will Grigg?s Liberty Minute

July 8, 2008

While agribusiness giant Archer-Daniels-Midland feasts at the taxpayer trough, the Third World starves.

Archer-Daniels Midland, or ADM, is the chief producer of ethanol, a supposedly eco-friendly fuel additive. In fact, producing ethanol ? a form of distilled grain alcohol made from corn ? actually consumes more energy than it produces. It involves massive use of nitrous oxide fertilizer, with toxic consequences for both air and water.

Yet for reasons of mutual political advantage, federal and state ethanol subsidies amount to more than a dollar a gallon. According to a study by the Cato Institute, 43% of ADM?s profits come directly from taxpayer subsidies.

An even more damaging result of those subsidies has been to redirect resources into growing corn for ethanol production. This has helped boost the prices of other grains. According to a World Bank study, the ethanol subsidy accounts for 75 percent of the recent increase in global food prices.

Socialism for the rich means starvation for the poor.

Let us take back the liberty wherewith Christ has made us free.