uh huh, and the more acerage dedicated to growing corn means less for other foods. in either event there will be more price increases in basic foods all over the world.
Algae and municipal wastes would be better for biodiesel production than use of food crops and acreage..............
And not to mention the fact that no one wants to pay $10 for a box of corn flakes and $100 per pound of meat from livestock raised on corn.
150 years of basic ag economics.
If the price of something is high, farmers overproduce until there is a glut and the price is low for them. That then causes farmers to produce less which leads to a shortage which causes a price hike and the cycle begins again.