The U.S. Department of Agriculture’s most recent estimate predicts that this year, for the first time, American farmers will harvest more corn for ethanol than for feed. In Europe some 50% of the rapeseed crop is going into biofuel production, according to Mr. Brabeck-Letmathe, while “world-wide about 18% of sugar is being used for biofuel today.
An excerpt from the WSJ article “Can the World Still Feed Itself?” about the concern that in a starving world more and more food is being produced for energy instead of food production. For us in the west it means we pay a little more for Corn Flakes. But in other parts of the world the quality of life is dramatically affected. Many forget the “Arab Spring” started as a food protest. Let’s pray that the correlation between the energy and food markets does not get more skewed as that will go a long way to keeping the peace throughout the world.