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that's a really shallow analysis. For starters, the food a cyclist consumes is not necessarily any more than what another human would consume-- Most people work out; someone driving a car is likely to go burn a bunch of food calories on a treadmill or playing field elsewhere, so your assumption that cycling inherently means more food consumption is off-base.
Further, food is a renewable resource. Fossil fuel is not.
I also think that when you talk about the "social cost" of driving, you're leaving out a lot of externalities. Fuel consumption and carbon dioxide production are only two of the issues cars bring up. Air and noise pollution, traffic fatalities, roadway building and maintenance costs, obesity (and subsequent healthcare costs), and a myriad of other problems all constitute social costs of driving that everyone has to bear, and that non-drivers bear disproportionately.
Finally, I'm not sure where you get the idea that a bike is only 10 times more efficient than a car. A fit person on a bike (not an enthusiast or racer) generally puts out in the neighborhood of 100 watts, or 1/7th a horsepower. Even with a more underpowered new car car today, let's say 100 horsepower, that's at most 1/700th of the power required to move the car around.
True, it takes longer to ride a bike somewhere than a car, so the power comparison isn't completely straightforward. But ignoring the case of cities (where bikes are often quicker than cars), let's assume the bike takes 3 times as long (i.e. the bike averages 15mph while the car averages 45mpg)-- even then, we're talking about 1/200th the total energy for the bike to get somewhere versus the car.
Are you sure you're not an auto lobbyist?