Rabid Liberal Rants

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World Bank Report Confirms: Biofuels Behind Food Price Hikes

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A leaked report by the World Bank, purportedly confirms that biofuels, not increased demand from India and China, has caused the world’s food prices to increase by 75%.

President Bush has linked higher food prices to higher demand from India and China, but the leaked World Bank study disputes that: “Rapid income growth in developing countries has not led to large increases in global grain consumption and was not a major factor responsible for the large price increases

The news also suggests that the report was finished back in April, but was held back:

Senior development sources believe the report, completed in April, has not been published to avoid embarrassing President George Bush.

It all sounds to corny to me, hehehe….

Written by rabidliberal

July 4, 2008 at 7:02 pm

Posted in Economy, Environment, Politics

Tagged with , , , , ,

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