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Carbon Capture And The U.S. Role In Global Food Security

Carbon Capture And The U.S. Role In Global Food Security. Robert Young Chief Economist – American Farm Bureau Federation The Economics of Alternative Energy Sources and Globalization: The Road Ahead Orlando, Florida – November 16-17.

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Carbon Capture And The U.S. Role In Global Food Security

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  1. Carbon Capture And The U.S. Role In Global Food Security Robert Young Chief Economist – American Farm Bureau Federation The Economics of Alternative Energy Sources and Globalization: The Road Ahead Orlando, Florida – November 16-17

  2. Equivalent changes in production costs for the 2012-2018 period applying the same percentage changes in energy prices displayed in the earlier slide

  3. Decline in Net Cash Farm Income with Various CO2e Prices

  4. Land Leaving Production At Various CO2e Prices

  5. Average Land Removal By Crop Type

  6. Area Planted To Major Crops

  7. * Averages of 2012-2018 values, with differences generated by imposing EIA general economic and energy price changes and area changes from FASOM model at $15 starting carbon prices for the basic scenario and $50 carbon prices for the No International Offsets / Limited Alternatives scenario.

  8. * Averages of 2012-2018 values, with differences generated by imposing EIA general economic and energy price changes and area changes from FASOM model at $15 starting carbon prices for the basic scenario and $50 carbon prices for the No International Offsets / Limited Alternatives scenario.

  9. What’s Still Not Included • The Income Figures Shown Do NOT Include Sequester Income • Easily Amount To Billions of Dollars For Land Going To Trees. • To Date EPA Has Shown Minimal Revenue For Production Practice Changes • Revenues/Costs From Use Of Stubble For Renewable Electricity Generation • Methane Digesters

  10. What Does This Tell Us? • This is NOT a Farm Income Issue • It IS a Farm Structure Issue • It WILL Shrink Agriculture • Massive shift to trees • Substantial cutbacks to offset production costs • Will You Like The Agriculture You End Up With? • Very brittle, susceptible to short crop situations. • Effects of short crop may last multiple years • Quickly Find Ourselves In Food Versus Carbon Situation

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