Oil prices and biofuels production impact food prices globally. In 2008, US biofuels production and oil prices caused 38% and 41% of US food price increases, while global biofuels production and oil prices caused 19% and 40% of global food price increases. Predictions show that by 2040, higher oil prices and increased biofuels production could raise global food prices significantly, leading to more poverty and hunger worldwide.