Smithfield Foods, Perseus, McGuireWoods, and Obama

Environmentalists are shaking their heads at Obama for his insistence on placing tariffs on imported sugar cane to be used as a source for ethanol production. Obama is insisting that corn be the crop of choice to produce ethanol, and not sugar, even though sugar is far more efficient at producing ethanol. I.e., using corn as the source for biodiesel instead of sugar cane requires far more land to produce less energy, AND causes food shortages and price increases.

For an enviro-type, it's difficult if not impossible to support Barack Obama when he claims we should be giving ample taxpayer support to growing corn for ethanol, but should not allow Brazil to sell its sugar cane ethanol in this country free of tariff....even though sugar cane ethanol is a far more efficient fuel.

That's according to The New York Times (here):

Corn ethanol generates less than two units of energy for every unit of energy used to produce it, while the energy ratio for sugar cane is more than 8 to 1. With lower production costs and cheaper land prices in the tropical countries where it is grown, sugar cane is a more efficient source.

I hate to have to agree with the National Review on anything, but they rightly criticize Obama for backing subsidies to grow corn for ethanol in the Midwest. All the while Obama enthusiastically supports taxing the importation of ethanol from Brazil, which requires no subsidy, is a better fuel, environmentally speaking, and doesn't crowd out land better used for food crops.

Source


So why is Obama insistent on using corn and not sugar cane to produce ethanol?

One answer. Smithfield Foods.

Smithfield Foods is a multi-billion global food company that is now becoming HEAVILY invested in corn-based ethanol production. They now have their own division called Smithfield Bioenergy.




And guess who sits on the board of Smithfield Foods?

How about another Perseus LLC executive, John Schwieters, and Robert Burrus, Chairman of McGuireWoods.






Smithfield Foods



Source


In fact, John Schwieters is the 8th largest individual shareholder of Smithfield Foods stock.




And let's not forget that Obama's deputy campaign manager for his 2004 Senate race was also from McGuireWoods:



So now we have direct connections between Obama's proposed tariffs on sugar cane and his backers at Perseus and McGuireWoods benefiting from these tariffs.


In other words, Obama wants to force U.S. companies to pay higher prices on sugar cane to the detriment of the environment so that his backers from Perseus and McGuireWoods make more money. This is not a different type of politics. This is just more PROOF that Obama has sold out to the very special interests that he claims he has no connection to.



[edit on 8-7-2008 by jamie83]

Just find out something else.

Smithfield Foods had a gross profit of over $1.1 billion last year. I don't remember hearing Obama calling for a windfall profit tax on Smithfield Foods.

Wonder why...