By: AG Staff – amgreatness.com – February 18, 2024

Farmers in the Western world are warning that the net-zero movement will drive food prices higher and put smaller farmers out of business.

A new report by the Buckeye Institute released earlier this month has concluded that so-called “net-zero climate control” policies will cause the cost of food to skyrocket for American families, reported The Epoch Times.

The report, titled “Net-Zero Climate-Control Policies Will Fail the Farm,” predicts that farmers will see costs rise by at least 34 percent this year. Those cost increases, in turn, will drive up the household grocery bill by more than $1,300 per year for a typical American family of four.

The U.S. Department of Agriculture projects that food prices will continue to increase, with costs rising by at least 34 percent for farmers. The cost of complying with net-zero emissions policies will be passed on to consumers, resulting in a 15 percent increase in groceries.

“This is where the left is going, trying to get to net zero,” said Rea Hederman, executive director of the Buckeye Institute’s economic research center. “The fact that the federal government printed too much money, this is on top of that, 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.”

Beef prices have already increased, and climate activists target beef production due to its high greenhouse gas emissions. Smaller farms will be particularly affected by net-zero policies, leading to concentrations in food production among fewer producers. There are concerns that banks will penalize farms that fail to comply with ESG criteria, including reducing emissions.

Inflation remains high, with prices increasing by 3.1 percent since last year, indicating that the fight against inflation is ongoing. The United States has committed to cutting greenhouse gas emissions and reaching net-zero emissions by 2050. Europe’s experience with net-zero provisions serves as a warning, as rising fertilizer costs have led to farmer protests and government reconsideration of climate mandates. Some climate activists see food alternatives, such as synthetic meat, as a solution to the challenges faced by farmers.

The Buckeye Institute is a conservative, free-market public policy think tank based in Columbus, Ohio. It was founded in 1989 by economist Sam Staley and has a mission to advance free-market public policy in the states. The institute conducts research, compiles data, and formulates free-market policies and focuses on individual liberty, free enterprise, personal responsibility, and limited government.

The full report by the Buckeye Institute can be viewed here.

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Source: This is Who to Thank for Higher Grocery Bills This Year › American Greatness