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Biofuels: the worst “good idea” ever! April 20, 2009

Posted by mytruthaboutoil in Geostrategy, Oil (general), Oil prices.
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For a bunch of years now, we’ve heard about how biofuels would save the world from its dependance on fossile energy, especially for low income countries.

Countries in Asia, South America and even Africa launched huge biofuels programs in order to lower their domestic energy bills.  Farmers in the US started to sell their production to biofuel companies instead of turning it into food.

What should happened happened. A global food crisis with a dramatic increase in cereals prices. Not a big deal in Western countries, but food riots in Asia and Africa…

If you want to learn a little more about this issue, have a look at this video:

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