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#87 The Kyoto Protocol and U.S. Agriculture
87 The Kyoto Protocol and US Agriculture Author:Joseph L. Bast, Terry Francl, Rich Nadler Implementation of the Kyoto Protocol on global warming would require taxes on fossil fuel equivalent to between 25 cents and 68 cents per gallon. A 50 cents-per-gallon tax would increase the average farmer's operating costs between 7.5 percent and 32 percent, depending on the commodity produced. Net profits for farmers would decline between 2... more »0 percent and 84 percent, again depending on which commodity is produced. The agricultural sector as a whole would see annual operating expenses increase by $20 billion, an amount equal to 48 percent of net farm income. Hundreds of thousands of family-owned farms are likely to go out of business, with negative effects on rural communities and financial institutions.« less