Green Car Congress: ADM to Invest $2.3 Billion Before 2009 to Expand Production of Biofuels and Plastics

Archer Daniels Midland (ADM) plans to invest about $2.3 billion before 2009 to expand its capacity for the production of ethanol and other biofuels and on the development of PHA (polyhydroxyalkanoate, a biodegradebable plastic made from plant sugar). See more here: ADM to Invest $2.3 Billion Before 2009 to Expand Production of Biofuels and Plastics

The talk around biofuels, whether it's biodiesel or ethanol, tends to make one think it will help the small family farm to survive. Biofuels means someone has to grow the biological material that go into creating the fuel. That means greater demand for biological material, which will mean higher prices for biological material, and eventually trickle down to more money flowing to farmers. Supposedly.

Or is it only going to enrich the likes of Archer Daniels Midland?