tag:blogger.com,1999:blog-3438900550453238104.post-31881383167248601132008-01-10T15:58:00.000Z2008-01-10T15:59:22.977Z2008-01-10T15:59:22.977Z<p class="MsoNormal" style="text-align: justify;">So the New Year has started with record highs in prices for oil and many agricultural commodities.<span style=""> </span>Yes, indeed, choices will have to be made. </p> <p class="MsoNormal" style="text-align: justify;">We are facing the confluence or rather conflict of four major trends:<o:p> </o:p></p> <p class="MsoNormal" style="text-align: justify;">1.<span style=""> </span>Growing world population.</p> <p class="MsoNormal" style="text-align: justify;">2.<span style=""> </span>Rising prosperity in major emerging economies such as China and India.<o:p> </o:p></p> <p class="MsoNormal" style="text-align: justify;">3.<span style=""> </span>Climate change disrupting agricultural supply patterns.</p> <p class="MsoNormal" style="text-align: justify;">4.<span style=""> </span>Governments disrupting market forces for fuel supply competitiveness.<o:p> </o:p></p> <p class="MsoNormal" style="text-align: justify;">One wish I have for 2008 is that biofuels should be developed on their own merit.<span style=""> </span>Artificial subsidies will accentuate the overall problems and there are enough problems already. </p>Richard Hallhttp://www.blogger.com/profile/17213418829950623446noreply@blogger.com1