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Recommend Simple math on food costs (Email)

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ARTICLE: "Why the World Can't Afford Food: And why higher prices are here to stay," by Jackson Dykman, Time, 19 May 2008, p. 34.
Poor harvests and restrictive trade policies + Increasing price of oil + Diversion of crops for biofuels + Increasing demand, especially in China = Record prices worldwide. Bottom line on corn ethanol: "U.S. farmers are devoting more land to corn at the expense of other crops and turning more of the corn into ethanol. It's a double whammy: both corn and grain for food become scarcer, further driving up prices."


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