The romantic populism states that the United States can escape dependence on Arab oil by growing its own fuel making ethanol from corn.I have written about the possibility of growing fuel from organic materials, like Brazilian sugar cane (with a better energy conversion ratio), but right now, a third of US grain is being converted into energy. If the USA end its subside to corn-based ethanol, there will be an impact on prices in two fronts: The supply of grain for food would increase, and the speculation in the markets would change dynamics.