Business Green: The Obama administration grasped the nettle of US corn ethanol policy yesterday, unveiling a £1.8bn strategy designed to bolster biofuel production while guarding against potential environmental damage. Green groups have argued US subsidies for producers of corn-based ethanol coupled with targets for biofuel production have contributed to rising food prices and deforestation as land previously used to grow corn for food is instead used to supply ethanol producers. The charge …