Replies to post #2870 on Besra Gold Inc (BESAF)

[Spellbound]

>10% was ethanol. We can grow any number of things

I run when I see 10% ethanol because it will soon be realized that ethanol is an energy sink. NOT an energy source. Why? because they first have to kill the soil, which BTW also kills it's natural CO2 storing capacity, with petroleum based herbicides. Then, since the corn won't grow in dead dirt, they have to supply its plant food using petroleum based fertilizers. None of these costs is factored into the true cost of ethanol because it's hidden by our big ag subsidies. Now, that's what I call modern American ingenuity! Don't know what happened to the good ole' American ingenuity you're refering to.

[Spellbound]

Der Spiegel: Secret Report Says Biofuels May Be Even Worse than Thought

Ref - http://www.spiegel.de/international/world/0,1518,563927,00.html

With soaring food prices high on the agenda for next week's G-8 Summit in Japan, World Bank President Robert Zoellick has been clear that action needs to be taken. "What we are witnessing is not a natural disaster -- a silent tsunami or a perfect storm," he wrote in a Tuesday letter to major Western leaders. "It is a man-made catastrophe, and as such must be fixed by people." According to a confidential World Bank report leaked to the Guardian on Thursday, Zoellick's organization may have a pretty good idea what that fix might look like: stop producing biofuels. The report claims that biofuels have driven up global food prices by 75 percent, according to the Guardian report, accounting for more than half of the 140 percent jump in price since 2002 of the food examined by the study. The paper claims that the report, completed in April, was not made public in order to avoid embarrassing US President George W. Bush.