Don't be confused Folks, here is a sequence:
First the dollar felt, Oil went up(because Arab use Petro$$$),
then Diesel Fuel came causing World Food Prices to rise.
---------------------------------------------------------------------------------
World Food Shortage Linked Directly to Fuel
In case you haven't been watching the news, catastrophic food
shortages have hit many countries, mostly in the developing
world. There are many culprits, including severe drought in
certain regions and population growth in China and India, but two
of the most im****tant factors directly relate to what you put in
your gas tank.
The skyrocketing price of oil has hit the global economy hard.
Think about it: How is food trans****ted all around the world?
Mostly in trucks and ****ps that require diesel fuel, which has
hit records highs (in the U.S. over $4 per gallon). It has become
vastly more expensive to trans****t food. The cost of rice, for
example, has seen an explosive increase of 75% in just two
months, with the result being food riots in countries like Haiti,
Indonesia, Cameroon and the Philippines.
The second factor, and the one the Western world bears the most
responsibility for, is biofuel-specifically corn ethanol.
According to a World Development Re****t authored by the World
Bank, it takes 528 pounds of corn to fill the tank of one SUV.
This same amount could feed one person for a year. Additionally,
as more and more corn and farmland is diverted to fuel
production, it drives up the price of other foods. According to a
re****t on National Public Radio, Europe is reconsidering its
heavy investment in biofuels in light of the food shortage.
Perhaps it's time for the U.S. to take a look at its policy as
well.
World's New Crisis: Soaring Food Prices (Business Day)
|
