If Only You Could Drink Ethanol

Tomorrow, or tonight, as the case may be, when you head out boozing and notice the price of beer has crept north since the last time you got housed in honor of America, thank politicians, and their myopic approach to energy. From USA Today:

Americans hosting Fourth of July barbecues will pay more cold cash for the cold ones this year as beer joins the list of foods and beverages whose prices are jumping, in part because of the booming ethanol market.

Retail prices for beer at supermarkets and other stores were up 3% in May from a year earlier, the biggest increase in 2½ years, according to the latest data from the Labor Department. That's higher than the inflation rate for the overall economy, and a bigger gain than in prices of liquor and wine bought to be consumed at home.

Those going out will also pay more for beer. Prices for beer poured away from home were up 3.8% in May from a year earlier.

The Wall Street Journal has much more on this.