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Letters
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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  • Friday, July 4, 2008 10:53 AM

    Biofuels and Food Prices

    No doubt that the statistics of the metrics on the increase of food prices are more or less accurate.

    Who is responsible for the price increase?

    Is it speculators' fault? Not to the implied extent.

    In an open market environment, risk takers are the plasma that smoothe out price and supply bottlenecks.

    It has been such for 2000 years.

    What do you think was going on at the Tempel in Jerusalem when the Baby Jesus was roaming the city?

    The futures market.

    Mungo Fetch

    —Mungofetch Read Mungofetch's other letters

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