Are Biofuels the Problem?

Energy prices are going through the roof and as I wrote the other day that prices may go to $10 a gallon, the emphasis has been on alternate energy solutions. This has created opportunities for alternate energy companies to cash in on the hype and demand. Biofuels have filled this new demand and has also created a growing (no pun intended) problem. Since biofuels is grown on farms and creates ethanol, this has caused a problem on the world food supply. Recently, US Secretary of State Condoleezza Rice spoke on the increasing world food prices.

Since the all the rules of acquisition are all about profits and gaining as much as possible, can you fault farmers in taking the initiative to gain as much of it as possible? Here are some biofuel stocks that I am looking at currently and really see if some profits can be made.
ADM
BG
BP
CAG
CVX
MON
PEIX
RDS.B

One little wrinkle in the whole genetically modified seeds that is the largest component of ethanol, is that the UN has created a task force on world food prices. This may cause a problem with the worlds largest genetically modifying engineering of biofuels company, ADM. They have already halted construction of 2 plants for creating biofuels.

What do you? You want to help the environment but do not want to pay the price? It is cause and effect theory.