from The Epoch Times:
A new report warns that the Biden administration’s net-zero climate policies could inflate food production costs, threatening shortages and high grocery prices.
A new report from the right-leaning think-tank The Buckeye Institute sounded the alarm on the Biden administration’s net-zero climate-control policies and that agenda items threaten U.S. food production.
The report, released on Feb.7, found that the climate policies and mandates guided by the environmental, social, and governance (ESG) agenda that is being pushed by the Biden administration carries a hefty price tag for American farmers and consumers.
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“To better appreciate the true costs that American farms and households will likely pay for the Biden administration’s net-zero policies and objectives, The Buckeye Institute’s Economic Research Center developed a model corn farm that must play by the government’s new carbon emission rules,” wrote report authors Trevor W. Lewis and M. Ankith Reddy, who are both economic research analysts at the think-tank.
“The farm’s operational costs, as expected, all rose significantly,” they added.
Crunching the numbers, the researchers found that U.S. farmers will see their operational costs rise by an estimated 34 percent as a result of the Biden administration’s net-zero emissions policies.
Not only did the model predict that the government’s carbon pricing policies would raise farm operating costs, consumers also face a hit to their wallets.
“Carbon pricing will increase the average U.S. grocery bill by $110 per month, $1,330 annually, or 15 percent,” the researchers estimated.
Threat to Food Supply
The government’s net-zero policies that the Buckeye report took into account in its analysis include the implications of rejoining the Paris Climate Accords, which targets greenhouse gas emissions.
In order to achieve the climate pact’s objectives, the Biden administration committed to cutting America’s greenhouse gas emissions by 50–52 percent by 2030 and to reach economy-wide net-zero emissions by 2050.
