Humble Tortilla Pie
January 21, 2007

In what hopes to be the beginning of a humanitarian and compassionate acknowledgment of his country’s poor, Mexican President Felipe Calderon signed a deal with businesses to curb the soaring price of corn tortillas and protect Mexico’s poor from speculative sellers as well as the surge in cost of corn driven by the U.S. ethanol industry. With the Mexican minimum wage topping off at $50.57 Mexican Pesos a day (approximately $4.65 USD), President Calderon’s act of political compassion may be the difference between eating — or more likely — not eating for many of his constituents. Let’s hope he stays the track and keeps the deal in place. The accord comes up for review and possible modifications on April 30, 2007.
More on ethanol from the WSJ.
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