For two days I have had glitches….but I am back now.
This article writes`about an issue that is huge in states in the midwest and the rockies, where I thought this bill would die on the vine…unfortunately. This makes me very optimistic. Please read.
New USDA Analysis: Economic Benefits Of Waxman-Markey For Farmers ‘Easily Trump’ The Costs
In testimony before the Senate Agriculture Committee today, U.S. Secretary of Agriculture Tom Vilsack will debunk conservative fearmongering of the cost of cap-and-trade legislation on American farmers. Right-wing organizations from the Heritage Foundation to the American Farm Bureau
have presented flawed analyses of the Waxman-Markey American Clean Energy and Security Act (H.R. 2454) to claim that a cap on global warming pollution would lead to a “permanent drought season
” for the agricultural sector. At the request of Republican Senators
Saxby Chambliss (R-GA) and Mike Johanns (R-NE), the U.S. Department of Agriculture conducted their own analysis of the clean energy legislation. As Vilsack will testify, the USDA found that “the economic benefits to agriculture
from cap and trade legislation will likely outweigh the costs”:
HR 2454’s creation of an offset market will create opportunities for the agricultural sector. In particular, our analysis indicates that annual net returns to farmers range from about $1 billion per year in 2015-20 to almost $15-20 billion in 2040-50, not accounting for the costs of implementing offset practices.
So, let me be clear about the implications of this analysis. In the short term, the economic benefits to agriculture from cap and trade legislation will likely outweigh the costs. In the long term, the economic benefits from offsets markets easily trump increased input costs from cap and trade legislation. Let me also note that we believe these figures are conservative because we aren’t able to model the types of technological change that are very likely to help farmers produce more crops and livestock with fewer inputs.
This analysis comports with the findings of the Brookings Institution, which found that a cap-and-trade system without an offset program would have little economic impact on the agricultural sector
. Furthermore, not only does the USDA analysis not take into account the rewards of technology innovation, demand for biofuels, or opportunities for wind farms, it fails to account for the costs of inaction. Global warming has already hit American farmers hard
, leading to reduced crop yields from droughts
, floods, extreme storms, heat waves
, seasonal shifts, and increased pestilence. In coming years, these disasters for farmers are expected to increase dramatically if no action is taken to address global warming.