As Americans Struggle Financially, Climate Agenda Set to Spark New Food Price Hikes, Analysts Say

Contact Your Elected Officials
The Epoch Times Header

The net zero climate agenda is pushing regulations and costs onto farmers, which translate to costlier food items for Americans.

As inflation remains stubbornly high, farmers throughout the Western world are warning that cost increases from the net zero movement will drive food prices still higher, while simultaneously putting many smaller farmers out of business.

January inflation numbers showed that prices increased by 3.1 percent over what they were a year ago, indicating that the fight against inflation, while progressing, has not been won.

Overall, prices have surged by nearly 18 percent since January 2021 when President Joe Biden took office.

Americans are struggling in an economy in which, by official statistics, nearly one-fifth of the value of their dollars has evaporated in three years—though many will say the cost of food and other essentials has become more expensive than what the official numbers state.

The U.S. Department of Agriculture (USDA), which tracks food prices, offers an optimistic assessment of the coming year. After having gone up 9.9 percent in 2022, the USDA states, “[food] prices grew more slowly in 2023,” increasing by only 5.8 percent.

“Food prices are expected to continue to decelerate in 2024,” the USDA projects.

While some predict that the worst is behind us, analysts of the U.S. farming industry say there is another round of price inflation in the works, which will come from the Biden administration’s “whole of government” effort to reduce global temperatures.

A recent report by the Buckeye Institute attempts to quantify the cost of Bidenomics to farmers.

The report, titled “Net-Zero Climate-Control Policies Will Fail the Farm,” projects that farmers will see costs rise by at least 34 percent, which will increase the household grocery bill for an American family of four by more than $1,300 per year.

“Complying with net-zero emissions policies and corporate ESG reporting requirements will increase prices of farm inputs, the costs of which will ultimately be passed onto consumers at grocery stores and restaurants,” the report states.

“This is where the left is going, trying to get to net zero,” Rea Hederman, executive director of the Buckeye Institute’s economic research center, told The Epoch Times. And the costs imposed on farmers are in addition to price hikes from inflation, weather, or other factors that typically impact food prices.

“The fact that the federal government printed too much money, this is on top of that,” Mr. Hederman said, “and it’s a sustained increase, not a temporary fluctuation in food prices, because you’re building higher baseline operating costs that are going to be permanent for farmers going forward.”

By Kevin Stocklin

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Chambers of Horror

Using a shutdown to legislate is like using a flame thrower to light a candle, it provides light momentarily but destroys everything in its path.

Government Shutdown, Health Care, Tax Breaks=Perfect Storm

The shutdown over cuts to health subsidies for the poor stems from Trump’s OBBB plan, which critics say funneled trillions to the wealthy.

3I/Atlas Comet or UFO Arrives Tomorrow!

The 3I/Atlas object is hurtling toward our solar system on a strange path and composition, set to pass behind the sun, obscuring visual and radio tracking.

‘I’d Be Finished’: Vaccine Researcher Trashes Own Study to Save Career

Most doctors comply with the system, following orders to keep their jobs, income, and prestige, even if it means setting aside independent judgment.

Kamala, Please Run Again

Kamala Harris hinted she wants to run for President in 2028, despite poor poll numbers and her loss in 2024. If she runs, the big winners will be the GOP.

San Jose Proclaims ‘Republic of China Day,’ Honors Taiwanese Community’s Contributions

San Jose declared Oct. 25 “Republic of China Day,” honoring the Taiwanese American community’s cultural and economic contributions to the city.

US Tightens Ban on Chinese Tech Gears

The United States has extended its ban on Chinese electronics to cover products partly made by companies blacklisted on national security grounds.

FDA Says It’s Eliminating Requirements for Generic Versions of Expensive Drugs

The Food and Drug Administration in draft guidance said it will reduce instances where large human trials are required for biosimilars.

Government Shutdown Could Cost US Economy $14 Billion: CBO

The government shutdown could cost the U.S. economy up to $14 billion, a new analysis by the CBO said on Oct. 29.

Trump, Japanese PM Sign Critical Minerals, Rare Earths Deal

The U.S. president visited Tokyo on the second leg...

Trump Hikes Canada’s Tariffs by 10 Percent for Not Pulling Anti-Tariff Ad Immediately

Trump announced he will increase tariffs on Canada by 10% after ad by provincial government of Ontario misrepresented President Reagan’s speech on tariffs.

Trump Rolls Back Emissions Rules on Copper Smelters

President Trump issued a proclamation aimed at reversing a Biden-era environmental rule that enforced stricter air emission standards on copper smelters.

Donor Gives $130 Million to Cover Shortfall in Troop Pay During Shutdown

Trump announced on Oct. 23 that an anonymous donor sent $130M to cover military pay during the ongoing government shutdown.
spot_img

Related Articles

Popular Categories

MAGA Business Central