Friday, May 16, 2008 Editorials: Conflict of interest
UNTIL the global food crisis emerged weeks ago, the in-thing for our country’s investment sector was biofuel.
In the last quarter of 2007, it was reported that 15 local and foreign business firms were prepared to risk an estimated P34 billion in investment for the production of biofuel feedstock.
The report said that, once in place, the combined investment would need some 725,300 hectares of agricultural land for their crops.
The investment would involve P19.18 million on the agriculture side, and P14.9 billion for the processing plants or
infrastructure side.
The biofuel feedstock includes such crops as sugarcane, cassava, jatropha, corn, palm oil, and coconut.
And here lies the conflict of interest between our basic food needs and energy requirements for survival.
Priority
There would not have been a serious dilemma confronting our national leadership had the global food crisis not suddenly emerged.
Now, our leaders, as well as our people, are confronted with the question of which should have predominance—food crops or biofuel feedstock.
On the surface, it can be said that food production should have precedence over the feedstock.
That is not only practical, but also with appreciable common sense.
After all, the global food shortage has the world’s richest nations scrambling for ways to lessen its impact on impoverished countries.
The British prime minister had earlier warned this issue would be made a top priority in the coming Group of Eight summit in July.
The switch
The point that is bringing up deep concerns among the leaders of developed nations is the undue rise in “global food prices which poses significant threats” to the peace and order condition of smaller nations.
And here we are in the Philippines, planning to switch about 725 thousand hectares of prime land from producing food for the people to planting biofuel feedstock with high profitability in mind.
Biofuel investors are said to be planning to set up processing plants in the country either through straight purchases, lease
arrangement, contract growing or joint ventures.
But then, in whatever way or manner biofuel investors would employ for their projects, the fact remains they would reduce food for our people.
