http://www.ctv.ca/servlet/ArticleNew...tories&s_name=
(bold emphasis mine)
Quote:
A secret World Bank report reveals what many analysts had already assumed -- that the increased use of biofuels has had a direct, powerful impact on the cost of living.
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The study -- the most detailed of its kind so far -- shows a much more dramatic rise in food prices than had been previously estimated. The report finds that food prices have risen 75 per cent, according to the paper.
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It argues that the U.S. position that rising food prices stem from economic growth in countries like China and India, simply isn't true.
And successive droughts in Australia haven't had a major impact either.
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The report finds these changes between 2002 and February 2008:
* Food basket prices rose 140 per cent.
* Rises in costs of energy and fertilizer caused a 15 per cent rise in food costs.
* Bio fuels caused a 75 per cent jump in food prices.
According to World Bank estimates, 100 million people worldwide have slipped below the poverty line as the result of skyrocketing food prices.
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Sounds like Biofuel isn't really a good option. Isn't this directly caused by the "act first, evaluate the consequences later" thought process?