Starving for Biofuels

Well, what did they think would happen, really? 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. I can not believe this would be a surprise to anyone who gave the problem more than a couple seconds of thought. Companies can make more money growing crops for biofuels, thanks to substantial government subsidies, than they can growing crops for food. Which one do you think they’ll choose? It’s like the law of supply and demand and other basic economic principles are utterly alien to most folks, including huge numbers of journalists. Karl thinks this would be an excellent subject to bring up on the campaign trail. Perhaps some enterprising American can ask it at one of the town hall meeting debates, assuming the... [read full story]