Tag Archives: World Bank

Farmers Will Respond Sustainably to Increased Demand for Food and Fuel

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News of this year’s corn crop should put to rest the debate over whether the nation’s corn crop is redirected for fuel use at the expense of feed for livestock. With the release of its 2013 corn crop report, the USDA has estimated that this year’s corn harvest will hit a new record of 13.99 billion bushels, which is 7% larger than the previous year. Additionally, corn prices are projected at $4.10-$4.90 per bushel, the Read More >

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Discounting the Future of Biofuels

It appears that global leaders’ faith in energy technologies that can reduce greenhouse gas emissions compared to oil is waning, particularly for biofuels, as reported in GreenInc. Respondents to the survey, which included 1,000 environmental experts, ranked energy conservation and efficiency technologies as having the greatest potential impact, both short- and long-term. Some 44 percent of respondents also said they expect that the current economic crisis will hinder progress toward an effective international climate agreement. Read More >

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A Tale of Two Studies

Don Mitchell of the World Bank’s Development Prospects Group has released an official version of his analysis of biofuels’ impact on the rise in global food prices. An early version of the study was leaked to the Guardian in London on July 4. Mitchell attributes 70 to 75 percent of the increase in food commodities prices to “biofuels and the related consequences of low grain stocks, large land use shifts, speculative activity and export bans.” Read More >

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Not a Secret After All

On Friday July 4, The Guardian newspaper of London published a story (“Secret report: biofuel caused food crisis”) about a “confidential,” unpublished World Bank report it had obtained purportedly demonstrating that biofuels are responsible for 75 percent of the global rise in food prices. “The damning unpublished assessment is based on the most detailed analysis of the crisis so far, carried out by an internationally-respected economist at global financial body,” according to The Guardian. In Read More >

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