Agribusiness Update Monday 07/14/14

A House Subcommittee approved legislation last week to cut EPA's funding by nine-percent while stopping the agency from finishing carbon pollution regulations for power plants. Subcommittee Chair Ken Calvert of California says there is a great deal of concern over the number of regulatory actions being pursued by EPA in the absence of legislation and without clear congressional direction. That's why the bill includes a number of provisions to address these concerns and stop unnecessary damaging regulatory overreach by EPA.

Time and again - Growth Energy CEO Tom Buis says Big Oil, Big Food and special interests have attacked the ethanol industry - blaming it for increasing food prices. But looking at the facts - Buis says nothing could be further from the truth. There has been a recent surge in ethanol production - while Buis says corn prices have been falling - now trading at 3-99 - half the cost of what it traded for two-years ago. However - he says food prices continue to rise because the cost of oil continues to climb - according to a recent World Bank Study.

That's today's Agribusiness Update from the Ag Information Network.