While Al Gore is busy preaching about global warming and environmentalists around the world hail ethanol as a solution to the "global warming" problem, the less fortunate, poorer countries in the world are in the midst of political turmoil as citizens riot and protest over soaring food prices. As reported by Marketwatch: "In Egypt, headline inflation jumped to 14.4% in March, with the pace of food price rises soaring to 20.5% year-on-year from 16.8% in February. In addition, the country is suffering from shortages of bread, which is heavily subsidized by the government."
As global demand for soft commodities soars, Egypt, like many other countries, is confronting surging food prices, which have stirred popular discontent and demonstrations." We have seen demonstrations as well in Haiti, and we all know about surging food inflation in China. Countries like India, Vietnam and Cambodia, have limited rice exports as well. Why? Because farmers, heavily subsidized, have turned over crops in order to grow corn for ethanol production. Funny how environmentalists say climate change is a problem that in 25-30 years could cause significant destruction to the earth. Of course global hunger and starvation could cause more havoc, in the very near term, but they don't mention that.
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