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Filed under: September 2007

Corn Season

I was recently offered a stake in the burgeoning ethanol industry. As many acres of Brazilian farmland as I could afford, on which to grow sugar cane that would be refined into fuel. The unsolicited email didn’t mention how many tropical hardwoods I might have to bulldoze in the process.

I next expect an email from Archer Daniels Midland (Ticker ADM on the NYSE) encouraging me to plant my backyard with corn so that I can do the neighbourly thing and help wean America from it’s dependency on foreign oil. The agribusiness giant is the largest U.S. producer of ethanol, which it makes by processing corn in coal-fired plants at its company base in Decatur, Illinois, and elsewhere in the American Midwest. They have more coal-fired plants both under construction and on the drawing board.

ADM’s appetite for corn might threaten Continue…

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