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Some uninformed folks might be worried about that, but not a lot of people I know. The concern is about altering the genetic components to the point where it permanently alters a species of plant or animal and harms the gene pool. What is more, it allows a company to patent the animal or plant so that it owns its genetic makeup. That plant seed or animal could then be purchase only from the company that owns the patent for it.
I've never actually met someone who believed that the problem with GMO foods is that they will somehow mutate you. No doubt such people exist, but I question whether they're a majority.
In addition to what's written above, another big reason to be concerned is that modern methods usually insert genes to be expressed in a type of organism *totally different* from the original setting of the gene, for instance getting plants to produce Bt toxins and so forth. The problem is that genes never do only one thing in an organism, and some have considerably pervasive and unexpected effects. And nobody is really *looking* for what *else* the Bt gene does when expressed in, like, a wheat plant. Some studies have found physiological changes in rats fed GMO foods, although whether this is real/widspread and what it might mean is certainly not understood at this time.
*Another* another, reason to be concerned: as an earlier poster alluded to, genetic material can jump among species by means of viruses (yes, really) and by means of natural hybridization. In nature this most often among related species, like from one plant to another, not from very unrelated species like from a bacterium to a plant. The problem is, once you have introduced (say) Roundup-resistance into a wheat plant, you have no control over a virus jumping it over to (say) thistles, and now you have Roundup-resistant thistles happily multiplying all over the landscape and whatcha gonna do bout THAT? It may not be highly likely but if it HAPPENED it would be catastrophic.
Finally, in the case of pesticide-related genes (which I've used as my examples here, but are BY NO MEANS the totality of what is being done, as much gene transfer involves things that affedt the growing characteristics or produce quality of the plants), you have what IMHO is the very biggest problem -- that by making the "use" of these pesticides even more universal (by putting Bt in lots of crops, and by making lots of crops resistant to Roundup etc so you can spray them ever more widely), you are greatly increasing the rate at which pests will evolve resistance. Which is probably inevitable but do we really want to be hurrying the process along?? And frankly, once pest insects are unaffected by Bt and once most weeds are unaffected by Roundup etc, THEN what do you do????
Pat, former research biologist, not against technology in general, but reeeeeaaaallly against this one, especially given the degree to which companies are trying to prevent research from being done on its effects in the world at large.