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In relation to biofuels, here is another article.
Japan to More Than Double Biodiesel Fuel Production in 4 Years
http://www.japanfs.org/db/database.cgi?cmd=dp&num=1457&dp=data_e.html
In my view, the hopes pinned on biofuels are very misguided because, as we all know, they are going to compete head-on with food. In this article, for instance, it says that rape is grown on "former paddy land." Much of this "former paddy land" is not used as such because the government pays farmers to not grow rice in order to prop up rice prices. According to recent news reports, Japan's food self-sufficiency rate in 2005 was 40%, so I'll give you one guess what will happen to that "former paddy land" as food imports begin to rise in price and dwindle.
Those who believe that biofuels are going to power large fleets of vehicles in the future are operating under totally mistaken assumptions.
In addition to the dought-releated stories posted on FTW today, there is this one about China.
China Drought Leaves 17 Million without Water - Media
http://www.planetark.com/dailynewsstory.cfm/newsid/37640/story.htm
Since China has become a net grain importer, this is an extremely serious situation. Already dangerously low grain stocks are bound to be drawn down further.
There were numerous guests on local talk radio this morning talking about the high value that biofuels are going to bring to the state of Indiana (I'm a recent transplant to the Indianapolis area). One of the repeated lines from both the governor (Mitch Daniels, frmr. OMB Director for GW Bush) and from the Indiana Secretary of State was how ethanol demand will dramaticaly increase the profit margins of Indiana farmers, and how it will eliminate the need for government subsidies.
The entire broadcast was "great news" etc. Yet there was no mention on how this would impact food prices or supplies. Not what I would call balanced journalism.
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