Ricardo M. Lantican
National Academy of Science and Technology
https://doi.org/10.57043/transnastphl.2008.4329
Abstract
The author believes that the current trends of diverting carbohydrate- and oil-rich crops into biofuels in countries with abundant land resources and advanced agriculture are irreversible, as new investment opportunities emerge. The long-term positive effect is the creation of a buffer against speculative increases in the world price of crude oil. However, the negative impact is the rise in global food prices, making them less affordable, particularly for the poor in underdeveloped countries.