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Friday, July 4, 2008 12:00 AM

A biofuel food-price bombshell

The U.K. Guardian reports some astonishing numbers from a "confidential" World Bank study on energy crops and grain prices.
Andrew Leonard

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  • Thursday, July 3, 2008 08:22 PM

    Bombshell? To Whom?

    This isn't a bombshell to anyone who has an inkling of economics. Of COURSE prices of food are going to go up when there is a completely distorted market for grains. The market was horribly distorted by governments that were urged on by companies like ADM that stood to make tons of money and the environmentalists, who, acting the useful idiot role, demanded more ethanol.

    Now that ethanol has been proven to be a complete boondoggle and waste of everyone's money, can we move on and start looking for REAL solutions?

    —andyinsdca Read andyinsdca's other letters

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