Thoughts on Geneticly engineered Foodcrops and Animals

Just wondering what folks think of all the genetic engineering going on in relation to our food supply. One of the points of organic gardening is choosing disease resistant varieties etc. so in theory this could be a good thing. I can't help but think though that considering the mess that has been created of our food supply by the very same folks developing and marketing these things they do not consider sustainability much of an issue, only profit.

Take for example the new "round ready' food crops. In theory, good idea. Reduces the need for tilling etc. which reduces fuel usage etc. However, we all know in nature there are no garauntees. The possibility of the round up resistant trait being passed to other plants in the environment cannot simply be discounted in nature where life finds a way against all odds. For this trait to be passed on to other species would be disasterous. Glyphosate, the active ingredient in roundup has been around a very long time and has been proven safe time and again. It has a higher LD 50 than sugar and has stood the test of time. While it would be nice to not use ANY chemicals in food production for the moment this is not a reality. If weed species were to develope a resistance to glyphosate it would mean that other herbicides would be used that do not have as long a track record and also by the way would of course be much more expensive because Glyphosate recently became off patent and can be produced by any company now which has resulted in a dramatic price drop.

So what are your thoughts, genetic engineering? Good thing, bad thing as far as sustainability?