Huntington bakery owner testifies about food prices [ con Schumer alert ]

Newsday ^ | Friday, May 2, 2008 | Kristen M. Daum

[SunkenCiv]

Richard Reinwald sees the rising price of wheat and flour in the global economy - but his loyal customers at Reinwald's Bakery in Huntington only see the extra 80 cents they now have to pay for a loaf of rye bread... He had to raise the price to keep up with higher costs - such as the 100-pound sack of flour for which he pays three times more than just a year ago... New York Democratic Sen. Charles Schumer, who convened the hearing... "They don't have extra income for higher food prices and have to stretch their dollars, or even worse, cut back on their food," Schumer said... The 2008 Farm Bill, currently under negotiation between the House and Senate, includes provisions to increase funding for federal nutrition programs including Food Stamps... The combined effects of severe droughts, volatile financial markets, decreased food production and the weak U.S. currency end up increasing food prices worldwide, Buis said.

[SunkenCiv]

Quick! Everybody! Blame an 80 cent a loaf increase of RYE bread (which is of course partly wheat) on ethanol! Don't blame fuel costs, which have a direct impact on production and transportation (among other things).

[SunkenCiv]

Schumer proposes tax on oil-company profits
Friday, May 02, 2008; Posted: 08:11 AM
Plattsburgh, May 02, 2008
The Press-Republican - McClatchy-Tribune Information Services via COMTEX
U.S. Sen. Charles Schumer is proposing a windfall-profits tax on oil companies.
http://www.tradingmarkets.com/.site/news/Stock%20News/1485234/

Oil Prices Hit Record High; Impact on Gasoline
(Schumer calls for oil drilling in National Forests)
WSYR.com | 29 Feb 08 | staff
Posted on 02/29/2008 5:07:03 AM PST by saganite
http://www.freerepublic.com/focus/f-news/1978188/posts

Oiling the Skids
Freedom News | May 3, 2006 | Tim
Posted on 05/03/2006 3:22:12 PM PDT by TBP
http://www.freerepublic.com/focus/f-bloggers/1626231/posts

[snip] Just look at the huge smile on the face of Senator Charles Schumer (D-NY) when he warns us about the possibility of $4.00 per gallon gasoline. [end]

Unreserved
TNR | Post date 05.20.04 | by Clay Risen
Posted on 05/20/2004 9:13:17 AM PDT by .cnI redruM
http://www.freerepublic.com/focus/f-news/1139201/posts

[snip] This week 25 Democrats, led by Charles Schumer, introduced a Senate resolution calling for Bush to release 30 million barrels — 1 million a day for a month—from the SPR... even if releasing oil from the SPR brought some short-term relief, we can’t do it for very long, especially at the million-barrels-per-day rate that Schumer and others propose. After a few months we’d have to stop, and prices would return to their previous level. [end]

[SunkenCiv]

Dumb Intercourse Chuck is a HERO around here, a HERO I say. ;’)

Schumer: Lift ethanol tariff to cut milk prices
Saturday, January 19, 2008
[from Newsday]
American Fuels
Alternative Fuels News and Commentary
http://www.americanfuels.info/2008/01/schumer-lift-ethanol-tariff-to-cut-milk.html

In a bid to bring down milk prices, Sen. Charles Schumer (D-N.Y.) announced legislation yesterday that would temporarily repeal a tariff on foreign ethanol, freeing up more supplies of corn for dairy farmers.

[Nathan Zachary]

"He had to raise the price to keep up with higher costs - such as the 100-pound sack of flour for which he pays three times more than just a year ago..

Hmmm. He's paying 3 times as much for a sack of flour over what he paid last year.

I can tell you it ISN'T because commodity prices went up. That would only account for a 25% increase at the very most. ($5.75 per bushel vs $4.40 last year per bushel)

But don't let little things like FACTS stop anyone from blaming it on Ethanol production.

[familyop]

"but his loyal customers at Reinwald's Bakery in Huntington only see the extra 80 cents they now have to pay for a loaf of rye bread"

LOL! He's more than keystoning (doubling) his increases in costs on that.

[Cold Heart]

If you read the article it will tell you that ethanol is not the total cause of the increase.

However, some farm groups feel that food costs are up 15 to 20% due to biofuels.

I don’t care, the sooner they get that crap out of my tank the better.

[Nathan Zachary]

"In a bid to bring down milk prices, Sen. Charles Schumer (D-N.Y.) announced legislation yesterday that would temporarily repeal a tariff on foreign ethanol, freeing up more supplies of corn for dairy farmers."

Shows how much Schumer knows about farming. Most SANE dairy farmers grow their own corn/ feed crops, so commodity prices don't effect them. Input costs do.

Schumer is also pretty stupid thinking Ethanol production even interrupts commercial feed production. Only the starch is processed from the corn and used for ethanol, the corn and tailings from ethanol yeast etc. continues on to be used for feed production.

Typical knee jerk liberal reaction.

[Sergio]

Schumer proposes tax on oil-company profits

I really wish that passing a basic, college level economics class was a requirement for holding public office.

Yo Chuck! Any tax you levy on the oil companies, will be passed on to the consumer in the form of increased fuel prices.

Why are politicians so mind numbingly stupid!

Increase the supply and prices will drop. Drill off of both coasts, in the Gulf, and in Alaska. Oh, the liberals won't allow that.

Build some new refineries to increase production capacity. Oh, the liberals won't allow that.

Build new nuclear power plants. Oh, the liberals won't allow that.

How about some new hydroelectric plants. Oh, the liberals won't allow that.

I know, some new wind farms. Oh, the liberals won't allow that.

Seems the liberals are against anything and everything that could be done to lower energy prices in this country, and yet amazingly enough, are surprised that energy prices are increasing.

[SunkenCiv]

Thanks, I did read the article. Ethanol doesn’t have anything to do with the increase — food prices in particular have been driven up by the price of petroleum. Even the price of ethanol has been driven up by the price of petroleum.

[Nathan Zachary]

"However, some farm groups feel that food costs are up 15 to 20% due to biofuels. I don’t care, the sooner they get that crap out of my tank the better.

Well, they "feel" wrong. It has zero impact. And that "crap" is good for your gas tank, good for your engine, and good for the air. So the more they put in your tank, the better.

Plus it will be GOOD for agriculture, and GOOD for the taxpayer when farm subsidies are stopped. it's GOOD for manufacturing because when things are GOOD for farmers, it's GOOD for machinery manufacturers, which in turn is GOOD for employment.

It's Also GOOD that the developing ethanol/ biofuels industries are creating GOOD, permanent jobs, and it's GOOD all the money spent stays in America, as does all the money spent on that GOOD fuel.

[SunkenCiv]

Heh... yeah, funny, that. It’s almost as if the baker is experiencing, oh, I dunno, perhaps the fourth generation of bakery owners just started college, or perhaps the increased price of natural gas, gasoline/diesel for his cargo truck (or for the cargo truck of his supplier), etc etc... I guess the baker understands economics better than Schumer pretends to, and is getting free publicity and a broadcast alibi. Not a very good alibi (as you’ve noted), but an alibi nonetheless.

[mountainbunny]

I hate to be a party pooper, but bananas, yoghurt, apples, and potatoes were all less expensive at Target tonight than they have been in a while. And Target isn’t always the least expensive place to shop.

Many things seemed to have been deeply discounted, and we paid less for a few things than we have in several months. I bought Rice Chex (now Gluten Free!) for more than a dollar less per box than normal.

Some of these recent price increases have been somewhat opportunistic, and seem to be leveling off and even lowering a tiny bit.

I guess that some prices are lower or stable doesn’t make the best news story, though.

[CGTRWK]

He’ll put on on a press conference to show his deep concern about a loaf of bread that costs you an extra 80 cents, and in the next breath demand a repeal of the Bush tax cuts which would cost you thousands or tens of thousands of dollars.

[Nathan Zachary]

"How about some new hydroelectric plants. Oh, the liberals won't allow that.'

There are a few bio fuels electric plants that have just gone online, and more to come.

http://www.biomassmagazine.com/article.jsp?article_id=1627

(More GOOD American jobs created by "crap")

[Cold Heart]

That’s a lot of lipstick :)

[hubel458]

Even if that baker was paying 3 times as much for flour
as before the wheat/rye in the loaf of bread would be
18 cents instead of 6 cents worth. So if he is
adding 80 cents....... Does that mean that if my gasoline
went up a dollar that my income should go up 7 dollars.
Same kinda deal. All that happened to corn farmers is
they got a couple bucks more for crops and oil took up
nearly all of it, by oils effect on farm inputs.Ed

[nathanbedford]

Most (emphasis supplied) SANE dairy farmers grow their own corn/ feed crops, so commodity prices don't effect them. Input costs do.

But not all dairy farmers do raise all the feedstock they need so they buy it in a market whose prices are inflated by a government program which burns those feedstocks. Similarly, not all beef producers grow all the feedstocks they need and they too must enter the marketplace to buy increasingly rare feedstocks because much of the feedstocks have been diverted for subsidized biofuels.

Many sane dairy farmers, being sane, find they can make more money by selling their feedstocks for biofuels if they reduce the size of their dairy herds, so they do so thus further driving up the price of milk-and beef

[Nathan Zachary]

"Some of these recent price increases have been somewhat opportunistic,

Absolutely. Like the rice scare last week. In the city, the prices doubled and tripled,and people still bought it all up, hording.

I bought some in the small town I shop in for a dollar less than what I normally pay. And I bought the same amount I always do. If there is a shortage, oh well, I guess I'll eat potatoes instead.

Either one goes good with deer. Which remains me, when is there going to be a major outcry about the deer eating all the corn and starving the people? LoL!

[Marie2]

Your post provoked my earlier thoughts - is it too Marie Antoinette to suggest we switch from more expensive grains to less expensive? If white rice too expensive, perhaps switch to pasta. If flour is too expensive, perhaps we should use oatmeal for bread, cookies, and breakfast.

If apples are too expensive, buy bananas, as a previous poster noted: they are cheaper right now.

[Nathan Zachary]

"whose prices are inflated by a government program which burns those feedstocks."

Again, that is a untrue statement. Only the starch is used in ethanol production.

The corn AND byproducts from ethanol production still get used to make feed- with even more vitamins/nutrients.