I’m at work (this is my work ’til close night), so this will be short.
Original article by Nicole Colson, subheaded Barack Obama has been talking tough about taxing Big Oil, but as Nicole Colson notes, there’s a reason he won’t criticize companies that are reaping record profits off of the current ethanol boondoggle, via socialistworker.org.
Here may be the crux of the argument:
BUT IT’S not only the Bush administration who has championed biofuels and companies like ADM. Barack Obama has made sure to put biofuels at the front and center of his economic proposals, and has a history of backing laws favorable to agribusiness.
As the Washington Post noted:
Since entering the Senate in 2005, Obama has been a staunch supporter of ethanol–he justified his vote for the Bush Administration’s 2005 energy bill, which was favorable to the oil industry, on the grounds that it also contained subsidies for ethanol and other forms of alternative energy, and he has sought earmarks for research projects on ethanol and other biofuels in his home state of Illinois, the second-highest corn-producing state after Iowa. Obama’s support for ethanol is shared by many farm state senators (even Hillary Clinton came around after an ethanol industry took root in upstate New York),
In just this election cycle alone, according to the Center for Responsive Politics, the agribusiness industry has given $2.7 million to Democrats–with more than $1 million going to Obama’s campaign.
Keep an eye on this as your food prices jump even more, and as we find our food stocks dropping to record lows!