Posted on 04/06/2008 5:05:42 PM PDT by SmithL
What do skyrocketing milk prices in America, pasta shortages in Italy, bread riots in Egypt and high oil prices all over the world have in common?
The global economy is hitting everyone's grocery bill. And while things aren't going to be pretty in America or Europe for the next several years - Italian consumer groups have already waged a strike against the food that represents their national identity - we've got it easy compared to the world's poor. World hunger - that plague that seemed to be on the decline as a global scourge - is slowly making a comeback, and it's set to get far worse.
The fact that it's become at least as profitable to raise grain for fuel as for food is part of the problem. The other part of the problem is the world's success. The world's developing countries are seeing stunning economic growth - about 7 percent annually - and they want to eat like Americans.
That means more meat (which is tremendously resource-intensive in terms of the amount of grain it takes to produce), more bread, more, more, more.
(Excerpt) Read more at sfgate.com ...
Reduces the market for his carbon credits, though.
Population growth might have something to do with it. Ten billion didn’t seem to bother the planners since if everything runs perfectly the planet can feed all that, but if everything doesn’t go according to plan then maybe going on seven billion is a problem. Especially since the major productive farms are mechanized (oil).
Of course the greenies at the SF Chron couldn’t get themselves to mention their pet project ethanol as contributing to the price increase.
Also the selfishness of the left is exhibited in full splendor by them resenting the fact that people that used to starve in China and India are actually making enough money nowdays to afford what we’ve been eating, and that grates them the wrong way because their prices at Whole Food are going up!!!
Now that the price of wheat and other basic commodities is skyrocketing, we will probably regain our status as a net exporter (in terms of dollars).
The Ethanol Boondoggle should be a major campaign issue. We’ve been bamboozled into a catastrophic national (and global) policy by Big Corn, and Iowa’s agriculture lobby is going to be the next target for the enmity of ratepayers, replacing the Texas oil barons. PEOPLE ARE GOING TO STARVE FOR THE SAKE OF THIS LIBERAL FEELGOOD CRAP, AND THEY WON’T CARE, THEY WON’T KNOW, AND THEY WON’T DO ANYTHING. Reminds me of Walter Duranty’s blood-stained Pulitzer Prize.
There’s a rumor fast spreading that Werner Trucking has filed for bankruptcy due to the rising cost of diesel fuel. Apparently this is NOT true.
I agree... It’s like the MTBE fiasco, but with much more severe consequences.
Do these people have no clue that they made this bed when they started pushing ethanol? That once the government subsidized growing corn for fuel, farmers would flock to that and the price of everything else (including wheat for pasta) would skyrocket?
What did the envirowackos think was going to happen? Corn would magically appear to be made into ethanol and it would have NO effect on the world’s food supply or world’s food prices?
Put another one in the “Law of Unintended Consequences” file.
Duh.
There is no corn subsidy to farmers and farmers have
increased output to supply the extra for ethanol.
Price supports stopped at less than half of present price.
There is no shortage just prices deiven up by
speculators. The money speculating in farm crops has
went up 20 times in last 8 years.They are trating it like
all other financial dealings, driving up the price.Ed
I’ll trade ‘em a loaf of bread for two barrels of oil.
Food prices are going up across the board here in Japan as well. Between 7 and 10 percent in most cases, some higher.
There’s a lot of grumbling about it.
The classical demand/supply curve is incorrect and obviously does not apply to much of anything except sleeping Econ101 students. The econ plane flies true when it is properly trimmed and the balance point is slightly ahead of the aerodynamic pressure center point. Too far ahead and the plane cannot maneuver; behind and the plane will be uncontrollable.
My families weekly grocery bill has gone from about $110 to $140 since december, same food choices...
Some of this also has to b e the result of the FED and go vernment printing all that nice new money to throw at the economy.
A Bushel of Grain for a Barrel of Oil!
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