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The move towards renewable bio fuels like ethanol are essential to lowering emissions and the carbon footprint of big business within the United States. However, the recent drought has economists, biologists, and farmers worried about supplies and subsequent sales. As a result, certain regulations and policy regarding bio-fuels have been put on hold to meet the upcoming demand for crops, but not to the agreement of the Biotechnology Industry Organization.
"The worst drought to hit parts of the U.S. in more than 50 years has some politicians and farmers scrambling to find ways of conserving food as crops shortages hit new highs. The U.S. Department of Agriculture projects a 17 percent reduction in corn crops this year, and the shortage has sent the price of corn bushels soaring. This has resulted in an increase in the cost of meat, as it is used to feed cattle and chicken.
Some members of Congress, state governors and meat producers have proposed that by temporarily waiving the Renewable Fuel Standard, more corn will be available for food in the short-term. The proposal has spurred arguments from both agriculturalists and biotechnology companies. For agriculturalists, waiving the Renewable Fuel Standard means lower prices and bigger supply. But to biofuel companies and those who represent them -- like the Biotechnology Industry Organization -- taking away the Renewable Fuel Standard means years of negative repercussions with very little benefit to meat producers."