In early 2007, two University of Minnesota economists forecast that biofuels would sharply increase food prices by 2020, leading to a steep rise in the number of empty bellies in the world.
How wrong they were. Soaring rates of hunger didn’t take a generation. It took a year.
The president of the World Bank recently estimated that 100 million more people around the world have slipped into hunger in the past year, in the wake of soaring oil and food prices.
“The kinds of price increases that we were using out to 2020 already have occurred and been exceeded,” said Benjamin Senauer, one of the authors of an article in Foreign Affairs magazine that raised dire warnings brushed aside by the biofuels industry.
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