corn-based ethanol has distorted the corn market and stretched corn supplies to the point productionosts have increased significantly. dishly, the current import tariff on foreign sources of ethanol harms united states consumers by retarding the development of a robust and sustainable viable fuels market. that's a direct quote, and i would ask unanimous consent to put this testimony in the record following my remarks. the presiding officer: without objection. mrs. feinstein: thank you. and then there is a whole list, a very long list in a letter to senators reid and mcconnell from a couple dozen agencies, both agricultural and environmental, and i would put those in as well. the presiding officer: without objection. mrs. feinstein: the western united dairyman's association and from the national cattlemen's beef association. the presiding officer: without objection. mrs. feinstein: now, i do this, not because i want to run through it all but because i think it's evidentiary testimony of what is happening out there because of what is very bad and egregious public policy, and at a time

corn priced today, the corn costs and a gallon of milk is about 46 cents. the cost of corn in a pound of chicken is 34 cents. one pound of beef takes 92 cents worth of corn. one pound of pork requires 39 cents. so, you have all this excuse coming from the food manufacturers of the united states that ethanol is the cause of food prices rising. but you can see in the figures i just gave you that what the farmer gets out of $1 worth of retail food is about 21 cents. and you could cut this in half, and it will be cut in half like it was three and a half years ago, but when the price of corn goes down, you aren't going to see big food reducing their cost of food by 20%, because they need ethanol as a scapegoat to raise the price of food. that's all i have to say about ethanol, but i do have an amendment that i'm introducing to this bill that's before us that's unrelated, unrelated to ethanol. but it also brings up the same point that there's a lot of places in this budget we can save money. and senator johnson of south dakota and i are introducing this amendment

there are three components when the corn goes in, protein, starch, and co2. the start is used to produce the fuel. what you do with the protein? you make of livestock feed. 1/3 of the corn crop comes out of livestock feed. what do you do with the co2? this company decided they would use it with heat from the production process in reclaimed water and produce algae. they could get that every day through a vertical and horizontal format. you will be able to have a tremendous crop of algae that can be used as an aquiculture feet or cosmetics or as a feedstock for fuel. there are 30,000 different kind of algae. the formula that the president has established to rebuild this economy is relatively simple. the government will spend less but spend wisely. we will have an economy that once again makes, creates, and innovate. because of that, we will create -- will be able to export that opportunity to the rest of the world and we will be able to create wealth of this country. that has worked in agriculture. it has worked in agriculture. less debt in agriculture, more pr

the percent of corn from 2000, 7%. 2005, 14%. and 2010, 37% of the entire corn crop goes to produce ethanol. corn futures have reached a record $7.99 a bushel on the chicago board of trade last week. prices are up 140% in the past 12 months and continue to rise. in 2006, prices were $2 a bushel so today they are $7.99 a bushel. so this has been a real spike in the price of feed. if it continues, one can expect major price increases in grain and food as well. the average price of corn has risen 225% since 2006. here it is. 2005, 2006, here it goes. it goes down slightly. and it has gone up. in california, the annual feed costs for foster farms -- this is the largest poultry producer on the west coast -- has tripled over the past year, increasing foster farms' cost for feed by more than $2 million. and this is more than the largest profit the company has ever made. and i hear similar stories from small producers, from co-ops, from dairymen and cattlemen throughout california. the price of feed is raising to such an extent that expe

that's nearly half of all the corn we grow in this country going right into the gas tank.nalyst bill flynn says after 30 years of taxpayer health, it is time for the ethanol industry to stand on its own. >> this industry is big enough to take the training wheels off. why do they need a 45 to 50 cent a gallon credit just to do their business. >> reporter: one alternative that could save billions is to reduce the subsidy and paul taylor says farmers could live with that. >> the short answer is yes, we're willing to play ball. we want to be at the table, we want to be players and talk about where the ethanol industry is going. >> reporter: for now farmers are watching this year's crop and worrying about the next. cynthia bowers, cbs news, esmond, illinois. >>> this morning on the "early" show the republican presidential field keeps growing and looks like rick perry of texas may join in. i'm terrell brown. this is the "cbs morning news." your doctor uses to instantly smooth out lines right here. temporary side effects include redness, pain, firmness, swelling, bumps, or risk o

here's where it's gone, the percent of corn from 2000, 7%. 2005, 14%, and 2010, 37% of the entire corn crop goes to produce ethanol. corn futures have reached the record $7.99 is bushel on the trade last week. prices are up 140% in the past 12 months and continue to rise. in 2006, prices were $2 a bushel so today they are $7.99 a bushel so this has been a real spike in the price of feed. if it continues, one can expect major price increases this grain and food as well. the average price of corn has risen 225% since 2006. here it is. 2005, 2006, here it goes, goes down slightly, and it has gone up. in california, the annual feed costs for foster farms, this is the largest poultry producer on the west coast, has tripled over the past year increasing foster farm's cost for feed by more than $2 million, and this is more than the largest profit the company has ever made, and i hear similar stories from small producers, from co-ops, from dairymen and cattlemen throughout california. the price of feed is raising to such an extent that experts are predicting a mass slaughter of hogs and dairy

a state vegetable, corn, first of all-- first of all, don't get cocky, corn. you beat onions. (laughter) >> jon: second of all y are we talking about a state vegetable in an extended session of the senate, no less. >> the importance of this legislation is not whether we have sweet corn or onion or any other vegetable but it's important that we do recognize and have a state vegetable for new york. (laughter) >> jon: yes. otherwise it would be chaos. (laughter) >> jon: after you take care of those important things there will be time left over the promotion of the basic civil right for a large group of people. but obviously our main story is the president's address to the nation last night. his first since that night two months ago when he informed us that he had personally killed osama bin laden with his bare hands. and he is walking down the same carpet again! i wonder if we got hitler this timeçó! >> when i announced the surge at west,rpoint, we set clear objectives to refocus on al qaeda, to reverse the taliban's momentum, and train afghan security forces to defend their own

that's nearly half of all the corn we grow in this country going right into the gas tank. oil analyst phil flynn says after 30 years of taxpayer help it is time for the ethanol industry to stand on its own. >> this industry is big enough to take the training wheels off. you know, why do they need a new 45 to 50 cent a gallon credit just to do their business? >> reporter: michigan congressman mike rogers agrees. he applaud the senate action and expects to see similar legislation brought up soon in the house. >> i believe ethanol is a viable fuel source but it can't continue at the way we're doing it. it may be, in fact, bankrupting the country. we can't allow for that. >> reporter: one alternative that could save billions is to reduce the subsidy and paul taylor says farmers could live with that. >> the short answer is yes we're willing to play ball. we want to be at the table. we want to be players. we want to talk about where the ethanol industry is going from here. >> reporter: for now farmers are watching this year's crop and worrying about next. cynthia bowers, cbs new

these sites were just covered with corn cobs where we'd go in and find a cache of corn cobs about 4 feet deep and 12 feet long, thousands and thousands of corn cobs and woven material all over the place, pieces of basketry, pieces of their sandals. this place is very well preserved. i mean a lot of this stuff is obviously worn, but it's been sitting there for 500 years. and what i found there that was very specific to anastazi were t-shaped doorways. you can see a large t-shape here. this is a very specific symbol that you see in chaco canyon and you see in mesa verde. there are certain sites where they are finding t-shaped alters where pieces of stone about this size had been cut into t's and are standing up inside of rooms just covered with objects, with necklaces. so the shape obviously had some meaning. but it is a clear anastazi shape. it is a clear shape from the colorado plateau. we do see it in calinke, you see it in certain incan sites in south america. so it might be a pan american feature. i'm not sure what it is. some hopi people have told me that the t, the bottom of the t,

you buy a sack of rice, a sack of corn.n the prices are up, you are feeling the direct impact of the rising food costs. host: but regular consumers are feeling it, too. guest: mostly it is transportation -- getting the product to the process are -- process oor. we pay a lot for transportation costs. n -- companies have been raising prices. it is filtering through the system. americans are absolutely feeling it. meat prices are about 7% higher than a year ago. they will probably go another 7%, 8% higher. in ethiopia, food prices are up about 35%. in other countries, they are feeling it much more intensely than we do because of the way they purchase food, which tends to be as a raw commodity itself. it is rising demand. there are more hungry people. everybody wants to buy food. bad weather conditions that we have had to contend with. rising oil prices. the government policy has been criticized. one thing that has been criticized is the ethanol policy. some food advocates say you should not be using corn for fuel; it should go

the right corn?ike ten minutes. what will happen is that the natural sugar from the corn, it's going to start to come out and carmelize as it chars. >> do you soak the corn before you grill it? >> no, i don't. nothing, straight there. >> perfect. >> then you have choices. you always do. you grab your corn. you can put on corn sticks or use your corn holders, and then you can, if you want, rub some butter, which i do -- >> i want to do that. i love butter. rub some butter. >> if you want, you can rub some mayo which you want to do. >> you know me so well. >> and this cheese here so interesting, is it cohita. >> this is fresh cheese, you can use feta cheese, they're cousin s. then you're going to roll it all over. we want that. >> of course we want it, pati. >> to give it a little spice, what do we do? >> then we'll add ground chilli. you can use any kind of ground chilli, chipotle or a mix, and some salt. >> delicious. >> and a squeeze of lime. >> a little lime. >> and then you have your crazy corn. a

our corn farmers don't need it. the worldwide demand for corn is high. we're going to continue to produce ethanol. we have a federally mandated requirement that we produce ethanol. this amendment doesn't touch that, never intended to touch that. but ethanol as a fuel should be processed to the next stage which is methanol, because methanol is not water soluble and it has the same octane rating as gasoline. ethanol is not a great fuel. it's not an economical fuel, but we can take that same carbon atom and add to it and create methanol from corn and get a much better fuel that can be transported much easier and have a much greater effect on our economy and have much better gas mileage and less effect on the engines and drive trains and all the other smog prevention that we have on automobiles today. so let me say it again. i'm not against using biocrops. i'm for biocrops. i'm not against cellulosic ethanol, i'm not against ethanol, i'm not against algae. but exxonmobil has spent a couple billion of their own money on algae-based biofuels without the govern

corn prices are near record highs.nstead of harvesting his 1,500 acres of corn, gohlke is chopping it up into a feed call silage, the only salvageable use for a crop destroyed by drought. >> we should be dealing with seven and a half foot corn right now, green, nice big ears on it. filled out all the way around. instead, that's what we have. >> reporter: his potential losses more than a quarter of a million dollars, but just a fraction of the $3 billion the historic drought will cost texas farmers and ranchers. 250 miles south, rosalee coleman is hurting, too. a 70-year-old widow, she's running this cattle ranch on more than a thousand acres by herself. >> other than raising three wonderful children, i feel like my greatest achievement has been to hold on to this land. >> reporter: and she needs every acre. with no real rain in nine months she's forced to move her cattle from pasture to pasture just to find grass to sustain them. >> in a normal season i would rotate every couple of weeks, three weeks. a pasture like th

the percent of corn from 2000, 7%. 2005, 14%. and 2010, 37% of the entire corn crop goes to produce ethanol. corn futures have reached a record $7.99 a bushel on the chicago board of trade last week. prices are up 140% in the past 12 months and continue to rise. in 2006, prices were $2 a bushel so today they are $7.99 a bushel. so this has been a real spike in the price of feed. if it continues, one can expect major price increases in grain and food as well. the average price of corn has risen 225% since 2006. here it is. 2005, 2006, here it goes. it goes down slightly. and it has gone up. in california, the annual feed costs for foster farms -- this is the largest poultry producer on the west coast -- has tripled over the past year, increasing foster farms' cost for feed by more than $2 million. and this is more than the largest profit the company has ever made. and i hear similar stories from small producers, from co-ops, from dairymen and cattlemen throughout california. the price of feed is raising to such an extent that expe

entomology at the university of minnesota is attempting to examine just this point is that the bt corn bt cotton and even the cheaper tadros were commercialized before many of the potential effects of these crops on the environment were investigated as to how much gene flow a kind of non-target affects how to whether or not resistance in the target will occur and how to deal with that these things were not figured out before that before the plants were commercialized and it was as they were commercialized people were raising these issues and and frankly what it is is it takes a while it takes a number of years to figure these things out and the. the the people who made these plants knew that they wanted to get them commercialized as fast as possible so you run into a problem where the people who are trying to sell these things who want to sell them the soon as possible because the sooner they sell them faster they can make their investments back and the same time we need to take the time to evaluate the environmental effects and so in the united states the route that's been taken this

that land was being switched to corn production, but that corn was no longer available for constructs that use corn for food but instead was being diverted to the construction of ethanol. the bottom line, mr. president, is that we can no longer ignore the cost of this policy to our nation and its taxpayers, particularly given our current fiscal crisis. at a time when we're projecting a deficit of this year alone of of $1.5 trillion, why in the world are we spending $6 billion subsidizing ethanol? subsidizing the blending of corn-based ethanol into gasoline is simply fiscally indefensible. i urge my colleagues to join me in supporting the coburn-feinstein amendment to repeal the ethanol excise tax credit and to eliminate the ethanol import tariff. thank you, mr. president. a senator: mr. president? the presiding officer: the senator from west virginia. mr. rockefeller: mr. president, in 1964, president johnson envisioned an america that -- quote -- "rests on abundance and liberty for all." it was against l.b.j.'s back drop of the great society that we reignited a commission of communit

helping out the materials sector was a big rally in corn. the price per bushel shot up almost 3% to a record high of $7.86 per bushel. the government cut its corn harvest forecast due to a wet spring. supplies are expected to be the tightest they've been in 15 years. agri-business stocks did well. fertilizer maker c.f. industries jumped more than 4%, farm chemical maker monsanto rallied almost 3%, john deere and company was up 2.5%. higher corn prices is not good news for meat producers like smithfield foods and tyson. each of those stocks lost a fraction. meantime, food company j.m. smucker has been able to capitalize on higher prices. trading volume tripled after the firm reported better than expected earnings and outlook. shares were up more than 2%, about one dollar away from its high last month. as evident by our conversation with robert shiller earlier, the direction of home prices remains very uncertain, but the owner of u-haul says revenue from renting moving equipment was up last quarter. that helped shares of amer-co pop 8%. the st

we now know who are experienced with corn in the united states the biological pollution of these you know cancer crosses uncontrollable there's no buffer zone you can't control the way insects fly or that rainwater will carry any vector can take this these new genes and spread them to other crops and to weedy relatives it's happening all of the united states can't control it but the companies are not taking responsibility for that and they're not being held liable for this biological pollution in the future that a company like monsanto is going to go out of business there they're teetering economically months and as intimate as economic problems think of the billions of dollars already out there and biological pollution costs are not going to pay so they're going to be long gone i mean when we look at our major crops if we're not careful corn soy cotton wheat rice and oddly be polluted perhaps indefinitely in a future because of these companies actions which they can never pay for that's gross corporate irresponsibility. not to consider. a field in minnesota and you ask how many spec

this is roasted corn. it's grilled corn. we've done it with a roasted jalapeno butter.stic bag. >> thank you so much. have a lovely weekend. monday, the latest celebrity buzz. >> and randy travis will perform. -- captions by vitac -- www.vitac.com

milling the corn, for instance, was hard work, but not as smelly. so how does this mill work?ll, our miller is going to show you right now. he's going to open up a gate, water's going to come pouring through the flume, and it's going to hit the water wheel outside. the water wheel is hooked up to a gearing system that eventually turns a couple of stones. and the grain is fed in between those stones, ground, and then out a chute. >> besides millers, there were also coopers. >> a cooper is someone who makes casks, which is the formal term for containers of all sizes. barrels, furcins, hogsheads, you name it. and essentially, what they start with is, just a regular old piece of wood, and they shape that piece of wood into a stave, and eventually those staves are put together into buckets, or in that case, into a barrel. >> boat building was another important trade. these teens are actually learning how to make an ice boat. >> and essentially, it's like a sailboat on sled skids, so it moves very quickly. in fact, these boats used to have the land speed record in the nineteenth cen

great food and if you don't like python, check out the corn dogs.e've got great corn dogs here. >> and a lot of other great contests happening too. let's get to those weather maps. that funnel cake helped wash that down. as we look at our weather headlines, we are expecting a little patchy fog there at the coastline and then temperatures staying in the low to mid-80s here as we head throughout the next 48 hours. and on the weekend, we're going to see some onshore flow continuing. that will keep the fog with us and temperatures in the 50s. we just had rattlesnake, didn't we? unbelievable. all right. then as we head throughout tomorrow and the early afternoon, we're looking at upper 60s and low 70s coming our way. and the alameda county fair once again happening out here in pleasanton where you can get everything from crickets and rattlesnake to alligator. also, of course, the corn dogs and even hot dogs. yes, the very regular and the very normal. all right, on your seven-day forecast, low to mid-80s coming back as we head throughout next week. i stil

joy your own corn at home. ♪ let's go out to the dmv ♪ it's ok that we're number four hundred and three ♪ ♪ we'll find ourselves a comfy seat ♪ ♪ and watch some shows and stuff ♪ ♪ ♪ let's follow that lady with the laptop ♪ [ male announcer ] now you can watch hit tv shows on your laptop with u-verse online and on your smartphone with u-verse mobile, included with most plans. or get u-verse tv for as low as $29 a month for 6 months. in the network you can take entertainment with you. >>> good morning. thank you for watching the fox 59 news weekend -- fox 59 news weekend. >> yes. we are talking about the train crash in rural nevada that killed two people. we will have an update on that here on i don't know 4 news. >> and what timing as new york celebrates gay marriage. localized there. obviously a huge victory. >>> okay. let's talk more about the popcorn from the last segment. >> you can smell it through the screen. >> absolutely. i love the popcorn. it is great. well, it is a beautiful saturday morning. everybo

when that 15 billion comes in a couple years and corn continues to be productive and u.s.ll people say, well, we don't need this ethanol, there's more corn for it. any discussion of that in a few years, and if not, why not? >> i don't think so because i think the key for the industry is to be national. what's happen happening now is located in the midwest. our goal is to make sure every part of the country has an opportunity to produce biofuel in the way most convenient and effective for them. it may be in the northwest you use woody biomass, but in the southeast you use grasses, or other areas algae is available. there's tremendous things occurring in this space that are going to lead to new opportunities. i mean, just consider how it is that america built a strong middle class, the strongest economy in the world. it was because we were in the business of innovation. we were in the business of making and creating thins. for far too long, we've been out of that business. the biofuel industry is one way to get back into that business, and if we get back into in a robust way

of fuel i mean just a quick example if you have an acre of land in northern iowa you can go crawl corn on that land to produce ethanol you might get a thousand dollars worth of corn if you have a good yield in a good price you put a wind turbine on that acre of land and you can produce at least three hundred thousand dollars worth of electricity here so he that tricity is the way to go not ethanol and not even an interim step like for example which is so much not the marijuana stuff but very you know they have it for diesel oil it's so much it's i believe the most efficient plant in in this climate for converting sunlight into right diesel fuel but the economics of producing ethanol from. from fibrous plants is just not there yet corn has still much more efficient it's a much cheaper source at this point but i don't think ethanol is from biological sort of this is it's going to be part of the competition areas and so what we produce the electricity and then we convert that to hydrogen for example would also sort of how do you know directly to. electrifying our transport system which we

when the corn is used for ethanol, there's a corn meal that remains from that, and that corn meal is to cattle. host: i'm going to stop include only because we have a minute left. thank you for your call. i want to go back to the first call because we can look at cash crops corn with about 1.6 million resip yets and the total payments paid out by usda averaging about $74 billion followed by wheat and cotton, soy beenes, rice, and dairy products. did you want to respond to her comment? guest: i just want to say one of the things that has come up with the farm bill and the discussion that they wanted to discuss this in the agriculture committee rather than the appropriations committee is there have been complaints that the small farmers are the ones who are suffering and that they're not getting their share of the subsidies but it is the big conglomerate farms the big kind of industrial farms that are getting a disproportionate share. so yes again that's something they want to address when they bring up the farm bill. host: karin

a corns fall from oaks and we cut those down. hogzila murderer speaks. i summon you from the swamp and holler. a red cheeked salamander in your stomach. when i saw you i littered up my rifle with buck shot and took aim. you were the most beautiful hog i had seen that's why i had to make you die to convince my friends of high heroism. i had not done in life cleaning up beer cans after the hunters left. but as i told that lady from the new york times after offering her fanta, which she refused, the whole country will eat humble pie after the scientists dig up the body of hogzila and see the greetness of exactly what i have done. thanks. >> it's a pleasure to be here. i will jump right into this. i figured anticipation of halloween i would read a story about witches this is the beginning and ending of a story questions of lawed blue fly. coming home from school on a monday morning in spring saddy stepped through a hole in the school yard fence on to the hem of her dress. when she straightened the left sleeve separated. her brother heard it rip. he turned an

corn farmers don't set corn prices. they're as surprised as everybody else when they see the price go up sometimes. >> absolutely. and a lot of things impact the rice it at the pump. a lot of things impact the cost of crude oil.price it at the pu. a lot of things impact the cost of crude oil.it at the pump. a lot of things impact the cost of crude oil. at the pump. a lot of things impact the cost of crude oil. >> i remember stories of some traders trying to bump up to $100 the price of crude just so they could say it was $100 and then it fell. there are people at one end of the system surely gaming the system and playing with prices at that end. >> well, look at the agencies that track this. as an association, we don't track price. we're in tnot allowed to. it's actually against the law. so you look at the agencies responsible. federal government, international agencies. and when they track the price of crude oil to and relative to the price we pay at the pump, it tracks very closely. and so things that influence that a

corn prices down 9.5% just this month alone. does this ease the inflation pressure and we extension the global inflation? >> you know, there's always a lag between the headline commodity prices and the actual c.p.i. indicator. now oil prices and korb prices have come down but they've come down from a very high level. china is one of the major energy users in the world and the second largest importer of oil. so as oil prices come down from the highs, it is going to help ease chinese inflationary concerns in the coming mokz. however we have to keep this mind the chinese economy is still growing at a very rapid pace. income growth ranges from 20-25%. that is also going to pose some problems for inflation down the road. >> tom: real quick, there's been a large debate growing in your community between a hard landing for china, which could be difficult, and a soft landing. which camp are you in, jing? >> we believe the chinese economy can achieve a soft landing, but that means that chinese authorities have to use more norbz try and co