Is biofuel bad for the less priviledged?

I will preface this post with the fact that I know very little about biofuels; I understand that it is fuel made from natural sources like corn and that it supposedly is better for the environment. I will also say that the article I am about to mention quotes someone that has arguably profited more from the oil industry than any other person.

That being said, I saw an interesting article recently claiming that using food as a fuel for vehicles is "morally inappropriate." The argument on the surface seems to make sense: millions of people in third world countries are starving and we would be using a potential food source as fuel. Both ethanol and biodiesel use corn, wheat, coconut, or beets. Rather than using these foods to feed the needy, we would be using them to fuel our culture of consumption.

As a total side note, the term "biodiesel" was recently added to Websters Dictionary.