More Cap-and-Tax Fallout: Now It Might Cause Starvation?

You have to be kidding me this Bill just keeps getting worse and worse as people delve into it.

If you tax carbon, you tax fertilizer and pesticides. If you tax these things, you tax food, and by no small amount. A $15/ton CO2 tax would increase fertilizer production costs directly by about $60/ton, with the cap-and-trade bill’s increased transport costs inflating the burden still more. That’s enough to make many farmers use less fertilizer, and less fertilizer means less food.

And less food means less grain, fruits, and soybeans exported to foreign countries that might have trouble feeding themselves. Everyone remembers that food prices shot up when oil prices went to $140+ last summer. Now imagine if food prices are artificially higher just because of the Cap-and-Tax Bill. Then lets say we see another oil spike in 2010 or 2011 when the world economy improves and oil demand heads back up. Get used to $15 a box cereal and $5 each for apples. And they have the gall to say that it will only cost Americans pennies a day.