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Corn pricing affected by global warming [shorties]

As temperature continues to increase, and the prognosis seems dire for the next decades, researchers worry about the unexpected side effects this could have on our society; the rise of the price of corn, especially under the latest biofuel mandates, is one of these effects. Biodiesel and corn ethanol are just two of the ways […]

Mihai Andrei
April 23, 2012 @ 5:25 pm

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As temperature continues to increase, and the prognosis seems dire for the next decades, researchers worry about the unexpected side effects this could have on our society; the rise of the price of corn, especially under the latest biofuel mandates, is one of these effects.

Biodiesel and corn ethanol are just two of the ways which many believe can help our planet fight against global warming, but they are far from being perfect. Scientists from the University of Purdue and Stanford found that over the next two decades, global warming will almost definitely raise the price of corn to dramatic levels, even when considering factors such as oil prices and trade policies. Biofuel mandates will create even more volatility to these prices, which in turn, indirectly, will raise temperatures even more.

“Frankly, I was surprised that climate had the largest effect of these three influences,” said Noah Diffenbaugh of the Stanford Woods Institute for the Environment in a recent Stanford Press Release. “These are substantial changes in price volatility that come from relatively moderate global warming.”

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