February 18, 2020

Climate Change- (Interview with Adrian Smith (R-Neb.)); Biofuels; Doha; H1N1; Food Safety; and CFTC Issues

Climate Change- (Interview with Adrian Smith (R-Neb.))

DTN Political Correspondent Jerry Hagstrom and DTN Ag Policy Editor Chris Clayton reported yesterday (link requires subscription) that, “House Agriculture Committee Chairman Collin Peterson, D-Minn., may have thought he was doing agriculture a favor last week when he said he would not support cap and trade climate-change legislation . But the National Farmers Union has asked him to reconsider, saying if Congress does not pass a bill the Environmental Protection Agency will end up regulating greenhouse-gas emissions.

“‘A purely regulatory approach to addressing greenhouse-gas emissions will bring all of the downside of increased energy inputs and none of the upside of carbon offset opportunities. Balancing environmental goals with consumer and economic impacts is a difficult task, yet it is imperative for Congress to act,’ NFU President Roger Johnson said in the letter. ‘Without a robust and flexible agriculture offset program, America’s farmers and ranchers will be unable to mitigate increased input costs that will occur as a result of a cap and trade program,’ Johnson added.

“Farmers have a chance to benefit from a cap-and-trade plan if the climate-change bill in the House Energy and Commerce Committee allows agricultural land to be considered for emission offsets. Under a cap-and-trade plan, businesses would lower greenhouse-gas emissions because of government-set caps on the amount of greenhouse gases companies may emit. Those operations emitting less than their allotted caps could trade excess carbon emission rights to other companies that are exceeding their quotas. Those emitting more greenhouse gases than their allotted caps would have to go out and buy credits on an open market.”