That's horseshit. superimpose the price of oil on a graph of raw corn prices. You get a direct coreletation. The dependence is clear, because industrial world agriculture depends criticaly on fossil fuel input. The most important part is that as US QE policies by the FED has caused commodity market inflation, prices of all comodities have shot up, with oil forcing higher food prices, and food rising also as a hedge against inflation, which is a double whammy.
That's horseshit. superimpose the price of oil on a graph of raw corn prices. You get a direct coreletation. The dependence is clear, because industrial world agriculture depends criticaly on fossil fuel input. The most important part is that as US QE policies by the FED has caused commodity market inflation, prices of all comodities have shot up, with oil forcing higher food prices, and food rising also as a hedge against inflation, which is a double whammy.
52111centrumcz 2 weeks ago