Biofuels: A New Wave Of Imperialist Plunder

The major justifications behind the current biofuels rush, namely high oil prices and climate change, are the natural results of a world economic system that is under the monopoly control of transnational corporations (TNCs). The aggressive competition among corporations for market domination and increased rates of profit has led to wars of aggression and massive market speculation, which drive oil prices up. Likewise, as competition intensifies, the unplanned global economy has produced enormous amounts of commodities and wastes that have caused unprecedented harm to the environment, such as the case of climate change. But the paradox is that while it is big business that is primarily behind the problems that biofuels are supposed to be addressing, it is also the one steering the global initiative for large-scale biofuels production and trade. There is no major shift therefore in the framework with which to address the issues of global energy security and global warming, and expectedly the biofuels phenomenon has only raised more questions in addition to its actual impact on energy security and climate change, such as food insecurity, rural poverty, and underdevelopment.


Title: Biofuels: A New Wave Of Imperialist Plunder
Authors: Pesticide Action Network Asia Pacific
Tags: biofuel
climate change
food security
rural development
Date: 25-Nov-2007
Publisher: Pesticide Action Network Asia Pacific
Category Type: Reports
Appears in Sub-Collections:Economic models


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