Here is a damning article from the Guardian, which says that according to a still secret World Bank report, 75% of food price rises are due to biofuels and not 3% as the Bush administration claims.
I have always considered the idea behind biofuels to be ridiculous. The whole idea is clearly aimed at supporting farmers. And since Iowa is one of the first primary states for any presidential election, all presidents have to be pro-corn and pro-biofuel. But putting that much energy into making something to burn has always sounded crazy.
Japan has some initiatives to use the power from trash they intend to burn anyway. That makes a lot of sense. If I remember correctly that was referred to as biofuel also, even though the concept was quite different.