November 14, 2007 (LPAC) -- The spectacular reversal of the fools rush into corn ethanol production is documented in today's issue of the Paris daily Le Figaro. (And don't say we didn't warn you.)

Many biofool production sites in the American Midwest have stopped production. The price of corn, which represents 70% of production costs, increased by 21%, while the price of ethanol dropped by 16%.

The domestic demand for ethanol is estimated at 7 billion gallons, but if all production facilities that exist (125) and those under construction (85) go into operation, total output of ethanol next year will be 12 billion gallons.

Not mentioned is that conversion of agricultural land to fuel production has already created food shortages, including a serious crisis in Mexico where corn is a staple of the diet.

Many people in the Midwest were so desperate that they blindly went into the business, saying this is the first industrial investment in our area in 25 years, Le Figaro reports.

With modern high-temperature nuclear reactors, hydrogen-based fuels can be efficiently produced locally, eliminating the shipping of crude oil on transoceanic voyages.

LaRouche has called for a focus on nuclear power production as the only sound basis for global economic recovery.