For anyone looking for an article that can be used to discuss the basic workings of supply and demand, here's a candidate.
After two years of secret taste tests, KFC said Monday it would stop frying chicken in artery-clogging trans fats, but New York City restaurants being urged to do the same say it's not so easy.
KFC's announcement, which won praise from consumer advocates, came an hour ahead of a public hearing on a New York health department proposal to ban the unhealthy fats in the nation's restaurant capital.
Industry leaders dished up a plateful of reasons why such a plan shouldn't be adopted.
One interesting side effect of the proposed ban is the effect on farming. A prime alternative to hydrogenated vegetable oil--one of the transfat culprits--is soy-based oil.
Dedrick said KFC and the creator of the new oil, the Monsanto Corp., had to work with seed oil processors to persuade farmers to grow more of the special soybeans used in the product. Among other things, farmers were offered a price premium to grow the new soybeans.
Hmmm...the threat of regulation spawns innovation and higher prices.
