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Farmers urge Obama to make carbon storage a cash crop |
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Written by WOELLERT/BJERGA, Bloomberg
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Saturday, 28 March 2009 |
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Farmers and their representatives in Congress are calling on President Barack Obama to include measures in any climate legislation that make it profitable for farmers to store carbon dioxide.
Currently, some farmers forgo tilling some acres because it earns them carbon credits they can sell on the Chicago Climate Exchange. Currently, prices are relatively low, but if Congress passes legislation to cap emissions, they could rise.
Some lawmakers are pressing for any climate package to include provisions to award farmers carbon offsets for using eco-friendly farming techniques or planting trees.
Still, farmers are split over support for a cap on carbon emissions. The American Farm Bureau Federation, the nation's largest farm group, has opposed cap-and-trade plans, saying they would raise fuel and fertilizer costs. The National Farmers Union supports the proposal and is lobbying for a slice of the carbon market.
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Last Updated ( Saturday, 28 March 2009 )
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