As many of the world’s governments continue pushing to a greener future, the energy transition is colliding with another challenge facing the world as it struggles to emerge from the pandemic: skyrocketing food prices. Many energy companies plan to increase their biofuel capacity by 2030, mainly using crops like corn and soybean oil as a major feedstock . But such a move is driving price inflation for a host of commodities and vegetable oils, including palm oil, canola and soybean oil . Meanwhile, corn, oil, copper, and gasoline futures prices have all doubled from a year ago while lumber has more than tripled. Simply put, accelerating demand for renewable biodiesel fuels is directly responsible for a worrying commodity price inflation. Food costs have been pushed to their highest in seven years in a price boom reminiscent of the China-led commodities supercycle which helped precipitate the world into a food […]