The global warming trade war has started—quietly, but just as surely as we knew it would. The Obama Administration is now subsidizing U.S. milk and cheese exports in a way that will punish New Zealand—which depends on its efficient grass-fed dairy exports for close to one-third of its total income. The reason? U.S. corn ethanol mandates have pushed American feed grain prices so high that the Administration felt it had to “give something” to U.S. dairy farmers.
