
From Flickr, originally uploaded by sudergal.
The evilest company in the world is not Microsoft, McDonald’s, ExxonMobil, or Wal-Mart. The evilest company is the world, hands down, is Archer Daniels Midland.
The reason for this is simple, for pure greed ADM’s lobbying has led to a worldwide run-up in the price of staple grains. This means that it will be harder for the world’s poor to get food.
ADM has lobbied hard for years because they don’t want to compete in a free marketplace. Instead they want the government to protect their place in the world. They started with sugar tariffs. The point of the tariff was to keep Third World farmer’s sugar-cane out of the US. By keep sugar imports out of the US, ADM could sell more high-fructose corn syrup.
A few years ago, ADM had a brilliant plan–promote ethanol as a domestic, CO2-friendly fuel and then lobby for a tariff on imported ethanol. ADM went to its friends in the White House and on Capitol Hill and pushed for, and got, a 54 cents per gallon tariff on imported ethanol.
But ADM’s greed was far from sated by a measly 54 cents per gallon tariff on imported ethanol, so they pushed for an ethanol mandate. In President Bush’s 2007 State of the Union, he called for a 35 billion gallons a year ethanol mandate. Nevermind that in 2006, we used 20% of the US corn crop to produce 5 billion gallons of ethanol. President Bush and his friends at ADM wanted to septuple that.
ADM lobbied for President Bush’s plan and again their efforts paid off. At the end of last year, Congress sent Bush an ethanol mandate requiring Americans to us 36 billion gallons of ethanol a year.
That would all be fine and good if ethanol were a magic fluid that came out of the ground. Instead, using current technologies, we usually take corn and turn it into ethanol. Turning food into fuel is increasing demand and driving up the price of staple grains around the world. The Times in the UK is reporting that “The rush towards biofuels is theatening world food production and the lives of billions of people.” EU Business is reporting that “The UN agency in charge of alleviating world hunger” is warning “that the fast-growing use of biofuels is driving up food prices for the world’s poor.” The World Food Program is having a difficult time because its operating costs are up 40% since June 2007.
Who’s to blame for all of this–the promoters of the ethanol mandate. But because AMD is the country’s largest ethanol producer, and because they have long been a welfare queen, and because their actions are leading to suffering all over world, this makes ADM the evilest company in the world.
P.S. Did I mention that some of ADM’s Execs were found guilty of price fixing?
P.P.S. Did I mention that ethanol prodution leads to more CO2 emissions that using gasoline?