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Business & Finance

Scramble for biofuel as oil prices rise ‘could push world closer to food crisis’

Key Points

Experts say increased use of crops for fuel is ‘dangerous game’ that could send food price inflation soaringDemand 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.

Experts say increased use of crops for fuel is ‘dangerous game’ that could send food price inflation soaring

Demand 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.

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US (LOCATION) Israeli (ORG) Iran (LOCATION) Hormuz (LOCATION)
Originally published by The Guardian Business Read original →