Big U Turn in Green Policies

Talk about the good driving out the best… The shift to biofuels is now found to be responsible for a 75% rise in world food prices, says World Bank. The hope that biofuels might be a magic bullet to reduce dependency on oil has long been dashed. But the scale of biofuels’ responsibility for soaring world food prices comes as a shock.

The news punches a hole in Gordon Brown’s green strategy and couldn’t come at a worst time, when he’s about to scrap plans for a 2% rise in fuel tax.