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 i
From soy we can produce about 50 gallons of biodiesel per acre whereas peanuts can yield as much as 123 gallons on the same amount of land. So why then does the U.S. generate the majority of its biodiesel from soy? The answer lies within the value of peanut oil on the global market. It's more valuable than soy which makes the conversion to biodiesel an unattractive option.