Fuel Choices, Food Crisis, and Finger-Pointing
Initially the fuel plants seemed like a good idea. This is absolutely why farms were turned into fuel farms. They seemed like a perfect solution for an increased oil price. Now the scenario has changed though.
The governments from poor countries are standing against this. The food prices are rising and thus the poor people are starving. In few countries riots have become common as well. Biofuels are turning to be quite dangerous.
This is absolutely why many of the food specialists are against it. Though biofuels are made responsible for higher food prices. Yet, there are few other factors as well. Factors like, droughts are also responsible.
There are few who agree that biofuel has led to increased food prices. Many differ as well.
- Ford Runge is an economist at the University of Minnesota. His views are different on the effect of biofuels on food cost. He feels that it is hard to determine. He feels that Ethanol is something that can be used. It needs a push of course. Yet, there is no politician who can dare to push this.
Links of Previous Main Topic:-
- Definition of Economics
- Economic Problem
- Production Possibilities and Opportunity Cost
- Production Efficiency
- Trade Off Along the PPF
- Opportunity Cost
- Using Resources Efficiently
Links of Next Macroeconomics Topics:-
- Market Equilibrium
- Employment and Unemployment
- Measuring GDP and Economic Growth
- Economic Growth Macroeconomics