The Southeastern Farm Press
, echoing the American Farm Bureau Federation (AFBF), is pointing a finger at the media for not reporting on a recent finding by the Congressional Budget Office (CBO). According to the CBO's report, called "The Impact of Ethanol Use on Food Prices and Greenhouse-Gas Emissions," ethanol
production caused food prices to rise "only" 0.5 to 0.8 of a percentage point in 2008. We mentioned the report, but did get the math wrong a bit
. According to the AFBF CEO, this report is the tool they needed to prove that ethanol was not responsible for the increase in food prices that took place last year. What's more, he stated that farmers did not benefit from the price increase.
[Source: Farm Press