There's only about a nickel's worth of corn in a box of corn flakes, explains the spokesman in a video GM released last week. The rising cost of corn flakes is actually attributed to packaging, marketing and the rising cost of fuel to get those corn flakes to the grocery store. In fact, the spokesman concludes, "Analysis that we have done shows that the price of gasoline has more than twice the impact on consumer food prices than does the price of grain." While the price of corn has doubled since 2005, the aggregate cost for food has gone up only 3.4 percent during that period. The best solution for keeping a lid on rising costs for food, the video concludes, is "fuel diversity." In other words, far from raising food prices, ethanol will help prevent them from rising.
GM Refutes that Ethanol Raises the Price of Food
There’s only about a nickel’s worth of corn in a box of corn flakes, explains the spokesman in a video GM released last week. The rising cost of corn flakes is actually attributed to packaging, marketing and the rising cost of fuel to get those corn flakes to the grocery store. In fact, the spokesman […]
