The future of biofuels is not in corn, says a new report released today by Food & Water Watch, the Network for New Energy Choices, and the Vermont Law School Institute for Energy and the Environment. The corn ethanol refinery industry, the beneficiary of new renewable fuel targets in the proposed energy legislation as well as proposed loan guarantee subsidies in the 2007 Farm Bill, will not significantly offset U.S. fossil fuel consumption without unacceptable environmental and economic consequences.