11/28/2012

The Renewable Fuel Standard, not this year's drought, is the cause of higher food prices, writes Rob Green, executive director of the National Council of Chain Restaurants, citing a new PricewaterhouseCoopers study commissioned by his group. The required use of ethanol has raised the price of livestock feed by using some of the country's corn supply, he argues. The study found that "by the time the mandate's 2015 goals are met, it will have caused a 27% increase in corn prices," Green writes.

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