Tyson Foods suffers 40% decline in profits and will now raise food prices. That’s a huge decline, huge! All because people kept clamoring for the federal government to “do something” about the rising cost of oil. This is why I don’t really ever trust the government to solve anything. They’re usually going to make only a few people happy (usually those that lobby the most) and end up making most people suffer. More and more, everyday I’m convinced that corn ethanol is not the way, but it’s the one picked for us by our bureaucratic leaders.
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I’m sure that the governments effort to enforce immigration laws hasn’t helped their profitability either.
With grain prices going through the roof, it makes you wonder why we still need farm subsidies. Or, at least, why none of the remaining presidential candidates are making that connection.