Thursday,
July 03, 2008
Barilla Calls US/EU Bio
Fuel Policy "Madness"
The
ANNOTICO Report
About
a year ago, some of you must have thought I had gone off my "rocker"
when in one of my Reports, I called the idea of
turning Food into Fuel "insane".
OK,
now that Barilla is saying it, maybe now you'll believe me. It is galactically stupid, to drive the price of food up, in a
world with so many starving, and so many people living in poverty, rather than
seek alternative forms of energy.
Maybe cornstalks
and native grasses, and maybe even sugar cane when there is a glut,........... but grains, ?????
Super Dum.
ANSA
'Milan,
July 1,2008
Italian
pasta multinational Barilla has branded the polices of
the European Union and the
Speaking
at the presentation of the group's 2007 budget, chairman Guido Barilla added
that politicians championing the use of grains to produce the green fuel were
acting on a ''populist logic'' and that this situation risked provoking a
global crisis because of soaring prices for wheat and other commodities
generally used as food staples.
''The
(Italian) government should seek information on the situation from people who
know about agriculture and food and explain the problem to the EU,'' Barilla
said.
During
Tuesday's presentation, the head of the world's biggest pastamaker
said that Barilla had been forced to boost prices by 40% over the past year and
a half to compensate for rocketing grain prices.
The
Barilla group's 2007 balance sheet saw turnover climb by 3.4% over the previous
year to 4.2 billion euros, while the group's
consolidated debt fell 178 million euros to 1.26 billion euros.
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