Economic Message of the Week: Report: ACES Won't Hurt Farmers

A new report finds that
global warming poses a far greater threat to
American farmers than the costs associated with the energy bill passed this
According to
an Environmental Working Group (EWG) study, the American Clean Energy and
Security Act, which passed in the House in June, will have a negligible impact on
the financial fortunes of the
agriculture sector-especially compared to the cost of abnormal weather patterns
and other crop-threatening global warming effects.
"A more careful examination of the facts shows that climate change itself,
not climate legislation, is the real threat to American agriculture, and that
climate-induced crop losses will cost US taxpayers and farmers far more than
could ever be caused by the (House) bill," EWG said.
The House bill, which aims for a 17 percent reduction in carbon pollution
from large sources over the next decade, features plans for a carbon offset
market that, in addition to changes in production management and technological
advances, would generate farm revenue in excess of the bill's costs, according to
Agriculture Secretary Tom Vilsack.
Published: October 14, 2009