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Bad Juice III: Biofuels Really Are Bad for Food Prices

Posted on September 05, 2008

The Journal's Bob Davis reports:In July, the Guardian newspaper breathlessly reported that a leaked copy of a World Bank report blamed biofuels for 75% of the steep increase in food prices. What made the report even juicier was that the report was supposedly suppressed by the World Bank, headed by former Bush administration Deputy Secretary of State Robert Zoellick. The blogosphere went to town on the story.A little reporting showed there wasnt a lot of there, there, as Gertrude Stein might have remarked. I spoke to the reports author, Donald Mitchell, who said the April report was a draft and...

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