Why in the world would converting corn to fuel cause massive price increases in food?
Its called supply and demand. Basic economics. The Ethanol crap needs to stop now. A new energy source will appear when it is economically viable, that’s how capitalism works. Anytime you try to change that, there are unintended consequences. This time, its going to be the starvation of hundreds of millions of people.
Here’s the money quote:
Next year, the use of US corn for ethanol is forecast to rise to 114 million tonnes – nearly a third of the whole projected US crop. American cars now burn enough corn to cover all the import needs of the 82 nations classed by the UN’s Food and Agriculture Organisation (FAO) as “low-income food-deficit countries”. There could scarcely be a better way to starve the poor.