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Oldies but Goodies May 15, 2009

Posted by Afflatus in Energy.
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I know the story about biofuels causing food prices to rise is old news, but while reading the wikipedia page on the World Bank I got diverted to an article in the Guardian which I thought I’d share.

The article essentially says that a World Bank report which analyzed the food crisis last summer found that the overwhelming cause was bad policy by Western nations. The report says that 100 million more people found themselves below the poverty line after food prices jumped as a result of the US and EU implementing energy policies centered on biofuels as a solution for reducing their dependence on petroleum. This is an atrocity.

The interesting thing was that this World Bank report was not published so that George Bush and leaders of the EU would not been embarrassed for their mistaken and (probably) hasty policies.

The article can be found here . I am not a big reader of The Guardian, although I am aware it is a left-wing paper published in Britain. I found the article to be clear, concise, and thorough. I appreciated the depth of its explanation of the World Bank report, which is something I often find lacking in the New York Times, my go-to newspaper.

Anyhowww, ya’ll should check out the article. On a slightly different note, does anyone have thoughts on the World Bank or IMF. Both institutions Joseph Stiglitz (and many others) has criticized for harming so called third-world countries, being a tool of the US, and/or hurting the environment, public health, and standards of living. Whhaddup?