New biofuels lobbying group formed by some of the biggest players in agribusiness

The argument over using crops to make biofuels is about to get a little louder, courtesy of a new group formed by some of the biggest agribusiness companies in the world. The new group — formed by Monsanto Co., Archer Daniels Midland, Deere & Co. and DuPont Co. — announced Thursday it will use national advertisements and lobbyists on Capitol Hill to build the case for using crops to make fuels like ethanol and biodiesel, even as grain prices climb worldwide. Just a niche market three years ago, the biofuels industry has blossomed because of federal mandates requiring the United States to use 9 billion gallons (34 billion liters) of alternative fuel annually by 2009. The mandates are under attack from a wide variety of groups that blame the new industry for rising food prices that have sparked riots and hoarding everywhere... [read full story]