For starters, it’s bad for the environment:
…In the long term, the Amazon Rainforest, for example, will experience vast deforestation due to Brazil’s increased sugarcane production in order to meet its ethanol export goals. This inevitably will result in the slow degradation of one of the Americas most precious and fragile ecosystems…
And it is disastrous to the world’s poor and underprivileged, who can no longer afford corn, a staple item particularly in Latin/South America. But its consequences aren’t limited to brown, foreign people. My brother, who gave me the above link, informs me that at Wal-Mart this week, the cheapest milk he saw was $3.78/gallon, which is now a full dollar a gallon more than I paid for regular unleaded gasoline, yesterday. But, what can I say about $4/gallon milk? It’s not a surprise.