Summary
The questions of biofuels causing a decrease in food supply and increasing costs is in fact true in part. The corn and soy based fuel systems were and still are causing the costs to rise. We need new sources of green fuel which is not food based.
Analysis
Over the past few years we have seen the biofuel projects get out of control on costs verses return on investments and cause the cost of food go up.
This is do to the corn and soy based fuel projects which were strong during the first part of the decade but have now fallen off and the prices for corn and soy and other food based fuel sources are still at a high levels.
There are other types of green fuel sources that can be used that are not food based.
Our company is working with Honeywell on a new type of green jet fuel and have several test flights which were a success.
This green fuel source is not a food source so the costs are down and the cost of the fuel will be lower in the long run.
Major key food groups that have large aggrow farms for corn and soy were being underwritten for selling the fuel source at a lower cost but the cost of the corn which is the bases for a number of food products in the US and overseas have seen a huge jump in prices.
We need to work on green fuel and new sources of biofuel but not at the expense of our food supply and the people it creates jobs for.
