Thursday, July 23, 2009

Keith Johnson lays it on thick. My take: Farmers are far too smart to believe that they, and everyone else, will get rich from the climate swindle

Team Obama: Why Farmers Should Love the Climate Bill - Environmental Capital - WSJ
The fact that President Obama focused on health care to the near-total exclusion of his energy and climate push in his press conference last night has some folks wondering: “Should we get over ourselves and concede that health care takes priority over climate action?”
Secretary Vilsack brandished a new report from the Agriculture Department. The upshot? Thanks to all the last-minute goodies included in the House climate bill, farmers stand to rake in a fortune from so-called carbon offsets. That extra income will more than compensate higher energy prices, he said.
But farmers’ net incomes will keep rising, because they will be literally standing on a gold mine in the form of carbon offsets, which will become increasingly valuable. The goods:
It might be even juicier; the EPA’s Ms. Jackson estimated the value of agricultural offsets at more than $3 billion in 2020.
That’s because farmers also stand to make a fortune off of other government energy policies, such as ambitious mandates for renewable energy and biofuels that will create lucrative, mandatory markets for crops and even agricultural waste.

Agricultural interests are skeptical of the USDA’s findings, arguing that a lot of sectors will still take a beating under the new legislation.

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