“Big Chicken” Behind RFS Waiver Request
Posted: July 2, 2008
A Houston Chronicle articles traces Texas Governor Rick Perry’s request for a waiver of the Renewable Fuels Standard back to a March 25 meeting with Lonnie “Bo” Pilgrim, owner of Pilgrim’s Pride, the country’s largest chicken producer.
Shortly after that meeting, Pilgrim donated $100,000 to the Republican Governors Association, which is chaired by Perry. Pilgrim’s Pride also generously donated its lobbyists and public relations firm to help Perry’s staff finalize the details of waiver request, which was submitted on April 25.
Pilgrim’s Pride, which owns 25 percent of the US poultry market, had net sales of nearly $7.6 billion last year, with a gross profit of about $600 million. According to their last annual report, the company still managed to make a significant profit despite higher feed costs. In fact, their gross profit for fiscal 2007 increased $293.9 million, or 98.8%, over fiscal 2006.
Doesn’t sound like they are suffering too much from higher feed costs.