«There are two main ways in which policymakers are insidiously interfering with the usual rules of supply and demand for raw materials, and myriad different smaller ones. . . . One is the policy of ultra-cheap money in advanced economies to fight the economic crisis; and the other, more commodity-specific one, is massive public subsidy for the production of bio-fuels. Food is being elbowed out by pursuit of "clean fuel". »
So writes Jeremy Warner, Assistant Editor of the Telegraph, in an article entitled
The Fed is fuelling the catastrophe of fast rising raw material prices
Now one may agree with his closing paragraph;
«There is no mess, it is sometimes said, quite so bad that government intervention isn't going to make even worse. Meddling with the money supply and the use of agricultural land for fuel production might seem to be two cases in point. »
but their use of Jatropha as a link image to the article set me on the warpath. Could any readers please help me must arguments in favour of biodiesel that address the point of food being elbowed out by fuel?
