Tagged: world bank

World Bank Report Confirms: Biofuels Behind Food Price Hikes

A leaked report by the World Bank, purportedly confirms that biofuels, not increased demand from India and China, has caused the world’s food prices to increase by 75%.

President Bush has linked higher food prices to higher demand from India and China, but the leaked World Bank study disputes that: “Rapid income growth in developing countries has not led to large increases in global grain consumption and was not a major factor responsible for the large price increases

The news also suggests that the report was finished back in April, but was held back:

Senior development sources believe the report, completed in April, has not been published to avoid embarrassing President George Bush.

It all sounds to corny to me, hehehe….