The Mudcat Café TM
Thread #112639   Message #2386055
Posted By: Q (Frank Staplin)
10-Jul-08 - 05:30 PM
Thread Name: BS: Ignored news
Subject: RE: BS: Ignored news
"World Bank" is a PSD blog site; comments without documentation.

The real World Bank chief, Robert Zoellick, said: "While many worry about filling their gas tanks, many others around the world are struggling to fill their stomachs. "Quote in Guardian.
Guarduan- "Zoellick appeared primarily to be calling for greater agricultural and food aid from the rich nations to the developing world. However, he made it clear that he considered the push towards biofuels part of the problem, saying that this tended to push up food prices."
Government focus on biofuels... "The UK, for instance, intends to require first 5 and then 10 per cent ethanol content in motor fuel in coming years- a plan which has already drawn widespread criticism." Guardian, April 11, 2008.

There is no basis for "U. S. ethanol corn crop was responsible for a 75% rise in grain costs world wide..."
As posted in other threads, several factors contribute to the high cost of grains; strongly increased demand, drought in some areas, decision by some nations to hoard grains, increased production costs because of rising fuel costs and conversion of acerage to biofuel production.

Use of grains for ethanol does add pressure on market prices but it is just one factor. The ethanol push does demand coverage, but that is no excuse for misquotation of Zoellick's statement.