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Ouch! World Bank says biofuels responsible for 75% rise in food prices

Maybe it's a good thing that American biofuel plants are filing for bankruptcy protection. According to a previously secret report conducted by the World Bank and obtained by the Guardian newspaper, biofuel production is hugely responsible for the food price crisis. How much? The report - the "most detailed analysis of the crisis so far," in the Guardian's words - says that biofuels caused global food prices to rise by 75 percent. This is much higher than previous estimates. Food Before Fuel estimated a 30 percent influence, and the Guardian ... Read more →

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