Saturday, July 05, 2008

Biofuels largely responsible for higher food prices says World Bank report

If you have already thought about this economically, as many of us have, you know this already, but the Guardian is now reporting that the emphasis on biofuels has pushed global food prices up 75. Anyone with the least bit of economic sense would have known this from the beginning (and did), but it was apparently lost on the Busy administration and the many Republicans and Democrats who voted for the several pieces of legislation that have succeeded in bring this about.

This is one of the chief economics questions that people should be asking Barak Obama and John McCain.

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