Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Gas prices may go up too because of drought
The slim silver lining to the global economic malaise has been low prices at the gas pump. That’s about to change.
Economists are already predicting price increases for staples like milk and beef as scorching heat and drought wreak havoc on America’s corn crop. Now, beleaguered consumers can add gasoline to that list.
“We’re pretty well hooked on ethanol,” said Bruce Babcock, professor of economics at Iowa State University. “It’s 10 percent of our gasoline supply.” The complexity of the market makes it hard to predict exactly what this will mean for drivers, but Babcock estimated the impact of ethanol, which is derived from corn, among other grains, could be as high as 15 cents a gallon.
http://bottomline.msnbc.msn.com/_news/2012/07/19/12834892-gas-prices-may-go-up-too-because-of-drought?lite
Economists are already predicting price increases for staples like milk and beef as scorching heat and drought wreak havoc on America’s corn crop. Now, beleaguered consumers can add gasoline to that list.
“We’re pretty well hooked on ethanol,” said Bruce Babcock, professor of economics at Iowa State University. “It’s 10 percent of our gasoline supply.” The complexity of the market makes it hard to predict exactly what this will mean for drivers, but Babcock estimated the impact of ethanol, which is derived from corn, among other grains, could be as high as 15 cents a gallon.
http://bottomline.msnbc.msn.com/_news/2012/07/19/12834892-gas-prices-may-go-up-too-because-of-drought?lite
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
