Researchers from Texas A&M University have concluded that eliminating the Renewable Fuel Standard “does not result in significantly lower corn prices,” and that “The underlying force driving changes in the agricultural industry, along with the economy as a whole, is overall higher energy costs, evidenced by $100 per barrel oil.”
The report said that, in addition, speculative investment in the commodities futures markets were leading to price volatility, and “the loss of the ability to use futures markets for price risk management due to the inability to finance margin requirements.” Commenting on the report, National Corn Growers Association president Ron Litterer said “The Texas A&M study dispels the food vs. fuel debate. This study shows there are many forces creating increases in food costs and ethanol is not a major factor.â€
Achim Steiner, executive director of the U.N. Environment Program, said that linking biofuel crop demand and higher commodity prices was only speculation at this stage. He said that further study woul...
US Secretary of Agriculture Ed Schafer: "Things have become apparent that while ethanol production ... is a factor in increased (food) prices, it's not the driving factor. Energy, and increased consum...
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 was...
Rising prosperity in Asia and Latin America is driving price for Canadian wheat to their highest levels in 30 year, according to the Globe & Mail. Biofuels have been blamed for the spike.
The USDA'...
World Bank president Robert Zoellick called demand for biofuels a "significant contributor" to world commodity prices as they soared out of control.
"I think you have a perfect storm of things comi...
World Bank president Robert Zoellick called demand for biofuels a "significant contributor" to world commodity prices as they soared out of control.
"I think you have a perfect storm of things comi...
