Chevron CEO continues oil industry jihad on biofuels, states biofuels are responsible for rising food prices

The Chairman and CEO of Chevron continued the oil industry’s jihad against biofuels by stating to APEC (Asia-Pacific Economic Cooperation) attendees that biofuels made from non-food crops, such as waste, are required to reduce the world’s reliance on fossil fuels — not food-crop based fuels — and that creating biofuels from food stocks was responsible for driving up food prices globally.

He went on to say that corn prices have doubled, wheat prices are at new records, and that biofuels are driving agricultural prices up. He stated that it takes 15% of the US corn crop to produce enough ethanol to meet 3% of US fuel demand.

No comments were offered on the food price impact of the 129% increase in oil prices since 2005.

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