An editorial in Tuesday’s Wall Street Journal called ethanol “a bad deal for consumers with little environmental benefit.” The editorial judgment was based on two new studies, one from the Environmental Protection Agency and one from the Congressional Budget Office.

The CBO report estimated that “the increased use of ethanol accounted for about 10 percent to 15 percent of the rise in food prices.” The Wall Street Journal said, “Ethanol raises food prices because millions of acres of farmland and 3 billion bushels of corn were diverted to ethanol from food production. Americans spend about $1.1 trillion a year on food, so in 2007 the ethanol subsidy cost families between $5.5 billion and $8.8 billion in higher grocery bills.”

Read more about the costs of corn fuel.