Oil and food prices

04/25/2011
Apologists for biofuels, hoping to dodge blame for rising food prices, want to rivet popular attention to everyone's favorite villain. Before a meeting in Rome this month of the United Nations Food and Agriculture Organization, the Global Renewable Fuels Alliance called on delegates "to focus on the real driver behind rising food cost—the price of oil." The message: Blame oil, not biofuels.The relationship between oil and food prices is clear and undeniable. Rising oil prices lift costs of most goods. This is a simple fact at which sensible people arrive from experience and for which they do not need harrumphing press releases from interest groups like GRFA. Yet evident tr...
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