World Bank Eases Off Biofuel
Posted on Jul 24, 2008 - 2:24pm by Wayne Weisser in Biodiesel
It seems as if World Bank isn’t placing 75% of the rise in fuel prices on biofuel. What was reported to be a secret appears to have been a draft, one that doesn’t reflect World Bank’s official position on the matter. While some have speculated that the report was suppressed due to political interests, Donald Mitchell, author of the draft report, states that the report has yet to be released simply because edits needed to be made. Representatives from World Bank contest that Mitchell is still receiving input from his peers and that the paper is in the process of being finalized. Furthermore, Mitchell claims that World Bank is looking to deliver a more polished version of the report which may be released as early as the end of this week.
Despite the confusion, World Bank stands firm on the belief that the increased production of biofuel has increased the need for food crops, which in turn has become the major contributor to steadily increasing food prices. This alone is more than enough to point the finger at biofuel whether the facts are derived from a draft paper or a full report.
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Shame they think this way. Why don’t companies look into algae as the source for biofuel production. Companies can grow the algae in any water source, thus relieveing farms from having to produce the material. This would also relieve the “demand for food crops”