Wednesday, April 16, 2008

Tensions Continue Building as Ethanol Continues to Cause Increase in Corn, Food Prices

The misguided policy of artificially creating a legal level of ethanol biofuel use is reeking havoc across the world as food and meat prices continue to soar in response to the unintended consequences.

That's always the problem when fear and torment are used as tools to push through policies built upon personal agendas.

As Paul Haugens, vice-president for Newedge Trading said, "The food-versus-fuel battle is going to get bigger and it's a political year in the United States so I don't see anyone making any changes (to ethanol policy)."

Listening to the irresponsible comments by U.S. Agriculture Secretary Ed Schafer Tuesday confirms Haugens is right, as schafer said, "energy is the big issue as we look at those food prices."

No it's not! The subsidizing of growing corn for the pet ethanol project is by far the major reason for the increase in food prices across the world.

The impact of this policy is being called "a crime against humanity" by Jean Ziegler, UN Special Rapporteur for the Right to Food; basing his assertion on the huge increase in food prices across the world.

Riots and protests are spreading globally, and the Haitian government was toppled last week because of when riots move senators in the country to fire the prime minister. It's going to get worse.

This foolish policy needs to be dropped now, as the growing number of oil discoveries show the hoax of Peak Oil is just that. There's no huge rush to get these things pushed through, as billions of barrels of oil have been discovered by Brazil, and new reserves in an area adjacent to the Canadian Sands could hold billions more. This doesn't include the billions awaiting to be taken out of the oil shales in the U.S.

Unfortunately, millions will suffer because of the newest government sponsorship of biofuels which are dubious at best, and deadly at worst.

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