Impact Card - Energy Prices

High Energy Prices → Recession & ↑ Food Prices

High energy costs threaten the global economy & drive up food prices

J. Sachs (economics professor, Columbia University), 08 Jeffrey D. Sachs [Professor of Economics & Director of the Earth Institute at Columbia University; Special Adviser to UN Secretary-General on the Millennium Development Goals], “Reinventing Energy,” Project Syndicate, 21 April, 2008, (web, project-syndicate.org, 12/21/09)

“Without plentiful and low-cost energy, every aspect of the global economy is threatened. For example, food prices are increasing alongside soaring oil prices, partly because of increased production costs, but also because farmland in the United States and elsewhere is being converted from food production to bio-fuel production.”