There are about 3 billion people around the globe that live on the equivalent of 2 dollars a day or less and the world was already on the verge of economic disaster before this year even began.
- Due to U.S. ethanol subsidies, almost a third of all corn grown in the United States is now used for fuel. This is putting a lot of stress on the price of corn.
- According to the United Nations, the global price of food reached a new all-time high in February.
- According to the World Bank, the global price of food has risen 36% over the past 12 months.
- The commodity price of wheat has approximately doubled since last summer.
- The commodity price of corn has also about doubled since last summer.
- The commodity price of soybeans is up about 50% since last June.
- The commodity price of orange juice has doubled since 2009.
- Due to a lack of water, some countries in the Middle East find themselves forced to almost totally rely on other nations for basic food staples. For example, it is being projected that there will be no more wheat production in Saudi Arabia by the year 2012.
- Water tables all over the globe are being depleted at an alarming rate due to "overpumping". According to the World Bank, there are 130 million people in China and 175 million people in India that are being fed with grain with water that is being pumped out of aquifers faster than it can be replaced.
- In the United States, the systematic depletion of the Ogallala Aquifer could eventually turn "America's Breadbasket" back into the "Dust Bowl".