by Kim Chipman (Bloomberg) Oil refiners’ attempt to clean up their act is bumping into growing concerns over food prices and supplies as nations seek to get back on their feet — Soaring demand for crops has once again raised the question of whether nations should really depend on ethanol and renewable diesel to save the planet from global warming. Corn, soybeans, palm oil and sugar, which are increasingly processed into biofuels worldwide, are part of a staggering commodities rally that’s making everything from animal feed and noodles to taco shells and chocolate more expensive, putting central bankers worldwide in a tough spot between fighting inflation and seeking to stimulate battered economies.
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The National Biodiesel Board argues that “biodiesel and renewable diesel continue to create value for surplus fats, oils and greases, which makes protein more affordable worldwide.” READ MORE