We might pay more for Vicks VapoRub though.

Maybe he is referring to this:

http://www.stuff.co.nz/business/world/5247520/Virgin-wants-planes-to-fly-on-eucalyptus

Virgin wants planes to fly on eucalyptus

There is sufficient existing sustainable biomass to support a local bio-derived jet fuel industry,” said the report, commissioned by the Sustainable Aviation Fuel Users Group, which includes Air New Zealand, Qantas and Virgin, as well as aircraft manufactures Boeing and Airbus.

Qantas currently has biofuel feasibility studies with two US-based companies, Solazyme and Solena.

We’ll all be paying more for food because we’ll be burning it in jet engines.

“The world is short of food. Climate change policies will impact on food availability and price”

http://www.scoop.co.nz/stories/PA1107/S00174/speech-groser-address-to-3rd-japan-nz-partnership-forum.htm

Huh ?

Is he alluding to bio-ethanol production?

Carbon taxes and ETS on fuel?

Is he obliquely admitting that the world is sacrificing reasonably priced and available food in a futile quest to modify the climate?

What?

“……about 2.5 per cent of WGP (or about $1.6 trillion) per annum would need to be invested to effect the energy transformation necessary to meet climate change mitigation targets alone”

Seems out of context with either of these 2 meanings:-

in·vest/inˈvest/Verb
1. Expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture.
2. Buy (something) whose usefulness will repay the cost

I think they really mean “would need to be [spent]“.

With the caveat – “with no guarantee of any real benefit to society”.