Rising oil prices drive biofuel demand surge, raising food crisis concerns
By
Fiona Harvey
Master baker tier. Every paragraph earns its place on the tray.
Summary
The article warns that rising oil prices, driven by geopolitical tensions including US-Israeli attacks on Iran and the closure of the Strait of Hormuz, are prompting countries like the US, Indonesia, Brazil, and Thailand to increase biofuel production and blending. This surge in biofuel demand—projected to rise nearly 30% this year and up to 70% by 2030—could significantly increase food price inflation and exacerbate the global food crisis, as crops are diverted from food to fuel production. Experts describe this trend as a 'dangerous game' that threatens food security worldwide.
Key quotes
· 4 pulledDemand for biofuels is likely to leap by nearly a third this year, which could send food price inflation soaring further and push the world closer to a global food crisis.
More countries are opting to increase biofuel use as the price of oil has jumped to nearly $100 a barrel after the US-Israeli attacks on Iran and the closure of the strait of Hormuz.
Demand for biofuels could increase by 70% by 2030 if oil supplies remain constrained.
Experts say increased use of crops for fuel is 'dangerous game' that could send food price inflation soaring
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