Friday, July 04, 2008

More Bad News for Biofuels

Biofuels blamed for food price crisis - Yahoo! News
Biofuels have forced global food prices up by 75 percent -- far more than previously estimated -- according to a confidential World Bank report published in a British newspaper on Friday.

The assessment is based on a detailed analysis by Don Mitchell, an internationally respected economist at the Washington-based global financial body, the Guardian said.
Now, the Guardian isn't the most reliable news source ever, but even so.
World Bank President Robert Zoellick has said biofuels are a "significant contributor" to the increase in food prices.
Biodiesel makes some sense, especially if you can use waste vegetable oil. Ethanol can even make sense if you run equipment on pure ethanol. Adding alcohol to gasoline makes little sense. (Unless you are a Congressman from a grain-growing state of course.)

Life is complicated and simple answers are usually wrong.

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