| OPEC drives up the price of beer |
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| News - Hugh's Views | |||
| Written by Hugh McManus | |||
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So, the price of The original mandate for the Organization for Petroleum Exporting Countries was a focus on black gold--oil. However, the current high price of oil has driven countries like the United States--a petroleum importing country--to search for alternate fuel sources. US farmers have responded by planting thousands of acres of corn, corn that can be converted into ethanol. Sadly, in this rush to find a replacement for oil, hops have suffered. In 2008. hop production in the US declined--corn is more profitable, so acres once dedicated to hops is now green with corn. With a decrease in the quantity of hops supplied, prices must rise to bring supply into alignment with demand. A higher price for hops means a higher price for beer. Well done OPEC!
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beer, yes beer, is being influenced by OPEC. Yep, that organization that's supposed to be the Organization for Petroleum Exporting Countries is not only making the morning commute for Joe pickup, but Joe six-pack is about to suffer too.