Monday, April 14, 2008

Oil prices and bio-fuel use of grains trigger sky-rocketing food costs

WHO CAN AFFORD FOOD? While I've been casually whining about the price of fuel at the pump and murmuring about the need for alternative fuels, a truly alarming crisis has been growing. The spiraling cost of basic food supplies in developing nations is sending thousands of otherwise economically self-sufficient people into ques for free food. The high costs are resulting in shortages and violent protests. The World Bank is calling for immediate action.

SHORT LIST OF CULPRITS. A short list of causes for the price spike includes: record-high price of fuel (used in every aspect of food production, distribution and delivery), diversion of grains for bio-fuels (such as ethanol), higher demand and corruption in delivery systems. Oh, yes, and greed.

WATCH, PRAY, ACT. I will begin to pay closer attention to this concern so that I can better understand it and be a part of a redemptive solution. I hope you will, too.

This article in today's Wall Street Journal is helpful.

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