The proposed bill which was passed by the U.S. house, and now lies before the senate, will have a “negligible”
The Environmental Working Group report pointed out that, "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 bill.”
Recent legislation brought before the Senate seeks a 20% cut in smokestack emissions by 2020 from 2005 levels. The bill that narrowly passed the House in mid year calls for a 17% cut by 2020 in pollution from utilities, manufacturers and oil refineries and other industries blamed for global warming.
Financial Soultions believes the American Farm Bureau Federation has advised that the House and Senate bill will drastically push up the price of farm fuel, fertilizer and pesticides.
But the new report indicated that cost increases, such as higher outlays to produce crops as a result of the climate change bill "are so small they would be lost in the background noise" of changes to farm revenue caused by routine fluctuations in yield, crop prices and input costs, Financial Soultions was told, and that farmers stand to lose more from weather patterns, such as flooding, drought or higher temperatures, caused by global warming.
