Thursday, July 10, 2008

Commentary: Is Oil Industry behind Biofuel Scare?

The Guardian is claiming there is a "secret" World Bank report claiming that high food prices have been caused by the demand for biofuels.

If true, it would not be surprising considered that the banking industry is pretty much in bed with the oil industry.

Most sober studies show that there could not be any close connection between the price of food and the demand for biofuel. On the contrary, it is the rise in petroleum-based fuel, fertilizer and other costs that is one of the main culprits. Weather patterns are also largely to blame.

Just a little common sense would bring the realization, for example, that biofuels can have little connection with rice shortages since the edible portion of the rice plant is not used to make biofuel.

Commentary: Solution to world food crisis lies in revealing real truth
Xinhua - 3 hours ago
by Fei Liena, Ming Jinwei BEIJING, July 10 (Xinhua) -- The unrelenting rise in food prices has become a matter of grave concern for many countries.
Exclusive: we publish the biofuels report they didn't want you to read
World Bank report could undermine biofuel support Reuters