U.S. farmers patience continues to grow thin as President Trump’s policies focus more on his trade wars with China and biofuel waivers for oil refineries.
As the summer driving season shifts into high gear, consumers are well aware of gasoline prices and the impact the price will have on their summer travels. Although gasoline makes up 90% of the gallons we purchase for our vehicles, the product that makes up the additional 10% (Ethanol) can have a big impact on the price we pay.
Big Oil vs. Big Corn – commonly discussed as though they are competing against one another for their greater interests and though this is certainly true, they are very dependent on one another both directly and indirectly. Farmers produce crops, in particular corn & soybean, with a large portion sold to refiners and used in the production of biofuels and ethanol. Farmers have used increasing amounts of energy over the years to produce their commodities such as fuel to power their equipment and to transport products all over the world. Although they often have competing interests there is a correlation and linkage between both industries.