The Global Pulse Blog!

An explosive news story indeed:

Biofuels have forced global food prices up by 75% - far more than previously estimated - according to a confidential World Bank report obtained by the Guardian.

The damning unpublished assessment is based on the most detailed analysis of the crisis so far, carried out by an internationally-respected economist at global financial body.

The figure emphatically contradicts the US government’s claims that plant-derived fuels contribute less than 3% to food-price rises. It will add to pressure on governments in Washington and across Europe, which have turned to plant-derived fuels to reduce emissions of greenhouse gases and reduce their dependence on imported oil.

With rising food prices pushing more than 100 million people worldwide below the poverty line, and with food riots breaking all over the world, the leaders of the G8 industrialised countries better realize the gravity of the situation, and work towards real solutions.

This entry was posted on Thursday, July 3rd, 2008 at 11:48 pm and is filed under Renewal Energy, Climate Change. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.