Biofuels are responsible for 30 percent of the increase in global food prices


BRUSSELS (Reuters) - Biofuels are responsible for 30 percent of the increase in global food prices, pushing 30 million people worldwide into poverty, aid agency Oxfam said in a report on Wednesday.... "Rich countries spent up to $15 billion last year supporting biofuels while blocking cheaper Brazilian ethanol, which is far less damaging for global food security," the report said. The aid agency also urged rich countries to scrap biofuels targets, including European Union plans to get 10 percent of its transport fuel from renewable sources like biofuels by 2020

Source: http://www.reuters.com/articlePrint?articleId=USL2432915720080625 REAUTERS Oxfam says biofuels pushing 30 million into poverty Wed Jun 25, 2008 9:39am EDT By Pete Harrison

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