Secret World Bank Report Blames Rising Fuel Prices On Biofuels
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The damning unpublished assessment is based on the most detailed analysis of the crisis so far, carried out by an internationally-respected economist at global financial body. . . .
“Political leaders seem intent on suppressing and ignoring the strong evidence that biofuels are a major factor in recent food price rises,” said Robert Bailey, policy adviser at Oxfam.
Anyone want to posit a guess as to which political leaders are suppressing this report? And why?
“Big oil” gets a lot of flak for using its considerable political clout to manipulate the political issues surrounding its industry. While that’s no doubt true, though not necessarily to the extent claimed by the oil industry’s critics, when will the biofuel industry come under the same file for using its money and political clout to manipulate political issues for its own benefit?
The biofuel industry wouldn’t exist as it does today without heavy taxpayer subsidies. Yet we’re supposed to believe that biofuel companies are the good guys and oil companies are the bad guys?
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