Thursday, March 8, 2012

"Spikes in Food Prices Project 2013" New York Times Green Blog

"The computer modeling that generated the prediction of a food crisis was first published by the New England Complex Systems Institute in September. The modeling has gained considerable credibility by accurately predicting food prices over the last 10 months. The research indicates that the crucial factors behind food price increases are the conversion of corn crops to ethanol and investor speculation on the agricultural futures market.
'There are two policy decisions we’ve identified as key drivers,' said Yaneer Bar-Yam, president of the institute. 'The first is the promotion of ethanol conversion, which provides the U.S. with less than 1 percent of its energy but has a much larger effect on global food availability.'"

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