Boycott biofuels and ban speculation…. that is if you believe in humanity


The world is currently facing one of the worst food crisis in recorded human history…. it is at a boiling point but it can spill over at anytime.

Retail staple food prices have seen record inflation of up to 300% in the last three years across the world resulting in more and more people struggling to eat even once a day.

No.. it is not a doomsday scenario.. this is happening now and what we are seeing is an utter disregard from humanity .. almost 20% of crops in the US in now being harvested for bio-fuels which means 20% less crops for human consumption..

“Rice — a staple for billions of Asians — has soared to its highest price in 20 years, while supplies are at their lowest level since the early 1980s, according to the U.S. Department of Agriculture. Meanwhile, the global supply of wheat is lower than it’s been in about 50 years — just five weeks’ worth of world consumption is on hand, according to the U.N. Food and Agricultural Organization. ”  (http://www.time.com/time/world/article/0,8599,1717572,00.html)

It is funny that people have been supporting bio-fuels which, currently, can only be produced by substituting food supply so the food that needs to go into people’s stomach is going into vehicles.. Okay… the situation is not dire but we are not far off. It is time to say No to bio-fuels, at least for now.

On the other hand, Oil speculators who have pushed the prices of oil from a stable $60 to $70 barrels to atrocious $105+ a barrel are minting money. There is literally no shortage of oil but these speculators made sure that they pushed the prices by going long on the market and continue to push these to maintain their profits. 

It’s not the oil speculators alone – “As always in a crisis, there are winners. The creeping fear that the world might actually run short of food — no longer simply the stuff of sci-fi movies — has led speculators to pour billions into commodities, further accelerating price rises. In a single day in February, global wheat prices jumped 25% after Kazakhstan’s government announced plans to restrict exports of its giant wheat crop for fear that its own citizens might go hungry” (http://www.time.com/time/world/article/0,8599,1717572,00.html)

As oil drives all transportation costs, everything is getting expensive including drilling and exploration costs for oil companies which in turn means no body in the oil industry wants to lose. But at the bottom of it, it is the speculators who are the culprit.

And with increasing transportation costs, the costs of bringing crops to the markets is skyrocketing.. prices of fertilisers is skyrocketing… which means increased costs of grain.

If oil speculation is banned for a few years, oil prices are going to drop to $50 – $60 dollars… I have no doubt but who is going to do it..  It is such a shame.

“The UN Food and Agriculture Organization warned on Friday that the food import bill for the world’s poorest countries will increase 56 per cent this year and civil unrest will increase if the international community doesn’t act vigorously to help. The World Bank recently estimated the food crisis will erase seven years of progress in reducing poverty in developing countries. Already, high food prices – the prices of wheat and rice are double what they were last year – have sparked riots in diverse hot spots around the world, including several African countries, Indonesia and Haiti.  Unlike famine in places like the Ethiopia, this situation is dispersed across the globe, from Asia to Africa to Latin America. FAO estimates 37 countries face food crises this year, requiring outside assistance for various reasons. The high price of oil is contributing to increased food prices and boosting inflation elsewhere in many economies.”(http://www.canada.com/montrealgazette/news/yourbusiness/story.html?id=21cdf43a-5cf7-4054-b65a-a2e995b21605)

Unless action is taken, many people will die of hunger and food riots….  Take action, show your responsibility and boycott bio fuels as a start.

“In India last year, more than 25,000 farmers took their own lives, driven to despair by grain shortages and farming debts. “The spectre of food grain imports stares India in the face as agricultural growth plunges to an all-time low,” warns India Today magazine.” (http://www.sundayherald.com/news/heraldnews/display.var.2104849.0.2008_the_year_of_global_food_crisis.php)

People.. wake up now! Criminal speculation of commodities must be banned.. and stop using and advancing biofuels……. Give humanity a break!

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