In the last six years, the growth of corn ethanol has been dramatic, partly in
response to the 2007 RFS. This rapid expansion coincided with the global food price
crisis, which drove agricultural commodity prices to record highs in 2007-8. The price
spikes sparked food riots and political instability in much of the developing world. Prices
spiked again in 2010-11. While most agricultural commodity prices have come down
from those peaks, corn prices remain stubbornly high (see Figure 2).