Drought, Climate Change, Corn Prices, Ethanol and Biofuels

Posted by Forbes: Tim Worstall on July 20th, 2012
Forbes: As we’ve all noticed there’s a drought going on in the American heartland. As many have noted this is leading to soaring prices of three main crops, corn wheat and soya. For that American heartland is the major source of export crops for all three (less so for soya than the other two to be sure). We know that high food prices can kill poor people: this is not generally regarded as a good thing even though there are far too many small population fanatics around. Even they tend not to advocate starvation......

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