Floods give more fuel to critics of ethanol

Already under siege from many sides, the U.S. ethanol industry is facing further pressures as recent Midwest flooding pushes corn prices to new highs and federal regulators weigh calls to reduce required use of the fuel.

One of the people calling for that is Gov. Rick Perry, who has scheduled a news conference on the subject today in Washington. Fearing the effects of high corn prices on the state's cattle and poultry industries, he has called on the federal government to suspend or reduce its mandate setting minimum levels of ethanol in the nation's fuel supply.

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