Will 2008 be the year that society turns against biofuels?

Will 2008 be the year that society turns against biofuels? Big questions today, but with good reason. Food costs alone will continue to rise because of the use of food crops to make biofuels. I know that the amounts are small in some cases but in closely balanced markets with little excess production it takes only a tiny imbalance to send prices rising dramatically.
The news that the US Department of Agriculture USDA expects the price of corn in the US to rise by 10% by the end of 2008. That will take the price of a bushel up to around $4.30 at the top end of projections. The proportion of the corn crop to be used in conventional ethanol production will be static at around 25%. This is probably due to the old supply/demand equations and the difficulty in securing cheap credit to build ethanol plants.
These factors should make the industry think hard about other sources of biofuels and to push for greater fuel efficiceny.

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