Biofuels Industry Representatives Contact G8 Leaders Urging That They Reconsider World Energy Policy

GrainNet.com
Date Posted: July 9, 2008

Dear Group of Eight Leaders:

Unquestionably, the world is facing an unprecedented energy and economic crisis.

Oil prices are at record highs, and despite Saudi Arabia’s announcement that it is increasing production, experts warn that prices will only continue to soar reaching $150 to $170 within one or two months.

Since the beginning of the year alone, oil is up 40 percent on the New York Mercantile Exchange.

Not by coincidence, world food prices are also on the rise.

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