Nestle Chairman Attacks Biofuels

Blog, Poverty, David Seymour

This story from the New Zealand Herald has Nestle Chairman Peter Brabeck-Letmathe lambasting bio-ethanol for creating food shortages.

Brabeck-Letmathe weighed in to the acrimonious debate over food price inflation to condemn politicians around the world who seem determined to blame financial speculators instead of tackling underlying imbalances in supply and demand.

“Today, 35 per cent of US corn goes into biofuel,” the Nestle chairman told the Council on Foreign Relations in New York yesterday.

“From an environmental point of view this is a nonsense, but more so when we are running out of food in the rest of the world.

“It is absolutely immoral to push hundreds of millions of people into hunger and into extreme poverty because of such a policy, so I think – I insist – no food for fuel.”

The Frontier Centre has been pushing this issue for a long time.