Peak Oil And Food Supply

[air]

According to Guardian future oil price rises will have a massive impact on food security. World grain stocks are at their lowest level in 34 years. In China, the most populous nation on earth, the grain harvest fell by 9% between 1998 and 2005, with the country now an ever-larger presence in global food markets as a result. Escalating food prices are likely to lead to political instability on a global scale, as more people chase fewer food resources. We could face the prospect of food shortages in the UK - one of Europe's largest food importers - and the possibility of starvation in some developing countries.
What do you think about this link between peak oil and food supplies? I am quite concerned generally especially when oil prices moved a step closer to the $100 a barrel.