Forbes.com published an article today called “Food Vs. Fuel” which, and this isn’t too common in the financial press, addresses the fact that “concern about climate change has led to biofuels subsidies that pit hungry mouths and empty gas tanks against each other.”
No exactly what I expected to read from Forbes. The article goes on to draw connections between increased meat consumption driving up food prices and even starts out with the startling statistic that “world’s poor spend twice what they did on food just seven years ago, yet still starve in greater numbers.”
I know, it sounds bad. But don’t worry, the article goes on to point out that “investors might find some opportunity amidst the misery.”
Oh, thank goodness.
I was worried that this horrific tale of suffering and injustice might not be good for investment portfolios. Luckily many banking giants have already reaped significant profits by investing in companies like ADM and Bunge–targets of our new Rainforest Agribusiness campaign.
Maybe the problem has something to do with our collective perverse focus on the financial profits generated by industrial agriculture rather than the importance of building a just and equitable food supply.