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U.S.D.A: Biofuels are Not Behind Food Prices
WASHINGTON, D.C. - On the 20th of May, the USDA released an economic analysis which shows that it isn't biofuels that contribute to higher food prices, but higher energy prices, worldwide demand and the weather, reports Meat & Poultry.In a briefing on the report, Secretary of Agriculture Ed Schafer noted that oil prices have climbed to record rates this year, and that global biofuels production cut crude oil consumption by 1 million barrels a day, per International Energy Agency data.
"Developing diversity in our portfolio of fuels is if anything an even more urgent matter than it has been in the past," Mr. Schafer said. "And it is one that remains central to our energy security and our national security. The policy choices we have made on biofuels will deliver long-term benefits."
Mr. Schafer went on to criticize recent efforts to repeal U.S. biofuels policy, and urged the focus to stay on long-term solutions.
"The need for food and fuel is only going to grow," he said.
View the Meat & Poultry story by clicking here.
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