Saturday, July 05, 2008

But.. but biofuels are gonna

SAVE us, I was told!
Biofuels have forced global food prices up by 75% - far more than previously estimated - according to a confidential World Bank report obtained by the Guardian.

The damning unpublished assessment is based on the most detailed analysis of the crisis so far, carried out by an internationally-respected economist at global financial body
Of course, it's in large part the fault of Bush:
Senior development sources believe the report, completed in April, has not been published to avoid embarrassing President George Bush.

"It would put the World Bank in a political hot-spot with the White House," said one yesterday
But a little further down, they note:
"Political leaders seem intent on suppressing and ignoring the strong evidence that biofuels are a major factor in recent food price rises," said Robert Bailey, policy adviser at Oxfam. "It is imperative that we have the full picture. While politicians concentrate on keeping industry lobbies happy, people in poor countries cannot afford enough to eat."
Since April, all petrol and diesel in Britain has had to include 2.5% from biofuels. The EU has been considering raising that target to 10% by 2020, but is faced with mounting evidence that that will only push food prices higher.

"Without the increase in biofuels, global wheat and maize stocks would not have declined appreciably and price increases due to other factors would have been moderate," says the report. The basket of food prices examined in the study rose by 140% between 2002 and this February. The report estimates that higher energy and fertiliser prices accounted for an increase of only 15%, while biofuels have been responsible for a 75% jump over that period

So a study not from a globular warmering denier says the biofuels bullcrap has indeed pushed food prices through the roof(as if it was a dark secret you have to learn about here). Wonder if the enviroweenies will keep pushing for them anyway? After all, a disgusting number of them want lots of humans to go away.


MauserMedic said...

Coming from a state that is primarily known for corn production, I'm amazed at the number of our gifted social engineers that are astounded by this. Apparently good intentions are supposed to overcome the laws of supply and demand. After all, if your motives are pure, what could go wrong (beyond starving the poor and encouraging massive amounts of fencerow to fencerow farming which diminishes wildlife habitat).

Anonymous said...

Just stand by for Brazil and Indonesia to complete clear felling the rain forests to plant biofuel crops...

Personaly, I think food prices have been artificially low for too long. Agricultural land is the most important natural resource a country has, and they don't make it anymore...