A group of the world’s biggest agribusiness companies announced it will use lobbyists on Capitol Hill and national ads to build the case for fuels such as ethanol and biodiesel, even as grain prices climb worldwide.

The biofuels industry has blossomed under federal mandates requiring the United States to increase alternative fuel usage by 2009. The mandates are under attack from groups who blame the new industry for rising food prices that have sparked riots and hoarding in several countries.

The newly formed Alliance for Abundant Food and Energy, formed by Monsanto, Archer Daniels Midland, Deere and DuPont, said producing more fuel without hurting food supply can be done by increasing agricultural productivity, an increase that would benefit the companies.

Although biofuels are help driving the coming economic bad times, I say let them do what they want–make lots of money–while the people stew in the approaching poverty. (sarcasm intended).