This actually has some PROMISE. Doesn’t waste crop land to grow oil instead of food.
Actually, we are making both food and fuel from our corn and beans. This is much better than only using them for food. If we have to stop making corn and beans based ethanol, bio diesel, pharmaceuticals and industrial chemical products, American agriculture will have to cut back millions of acres of corn planting.
For years soy beans were crushed to make high protein soy meal for livestock feeding. They wanted the soy oil out of the feed, as it was bad for the animals to eat that much.
We made soy oil into cooking oils, pharmaceuticals and odds and ends, but millions of gallons were being stored, looking for a use and a market. Then we started making bio diesel. It took years to use up the backlog of stored soy oil, but now we make any surplus into bio diesel and we have a happy balance, marketing all of the products of soy bean processing.
Corn is much more complex and is processed into any of thousands of food, feed, chemicals, plastic, pharmaceutical products, and fuels too, as markets demand them. More corn based products are being developed daily.
America has the capacity to double current corn production, as we develop the markets to sell the stuff.