Harry Teague Attempts to Salvage New Mexico’s Agriculture after Voting to Devastate it
Washington– After voting for a National Energy Tax that could burn New Mexican farmers and ranchers, Harry Teague will rub elbows with Secretary of Agriculture Tom Vilsack today. And while they discuss pertinent agriculture issues, Harry Teague owes it to New Mexicans to explain to them why he supported a National Energy Tax that could have devastating consequences on the state’s agriculture sector.
“Farmers use a lot of electricity, a lot of diesel fuel, and a lot of natural gas-derived chemicals and fertilizers to grow crops and maintain their farms. So it shouldn’t be surprising that a cap and trade program that artificially drives up the cost of energy will unfavorably affect farmers. What may be surprising is how unfavorable these effects are, causing expected farm income to drop $8 billion in 2012, $25 billion in 2024, and over $50 billion in 2035. These are decreases of 28%, 60% and 94%, respectively.” (“Carbon Offset Program Won’t Offset Farmers’ Lost Income from Cap and Trade,” Heritage Foundation, 6/22/2009)
“Harry Teague has proven time and time again that he has lost sight of what’s important to New Mexico’s agriculture sector,” said NRCC Communications Director Ken Spain. “Despite representing a rural district, Teague has voted to add a devastating financial burden on already struggling New Mexican farmers and ranchers. Teague has continually thrown rural New Mexicans under the bus by rubbing elbows with the likes of Henry ‘the Taxman’ Waxman and Secretary Vilsack to make a quick buck or prove his party loyalty, but the cost to his constituents is devastating.”
For months, Harry Teague hid behind his claim that he supported the devastating National Energy Tax to protect small refineries, but that argument is moot now that small refiners have publicly opposed the bill:
“Executives at small oil refiners who broke with the industry to support the House climate bill now oppose it advancing in the Senate, illustrating the stiffening resistance to the sweeping legislation. Some small oil refiners say they appreciated efforts to accommodate their concerns. But they now oppose the legislation sponsored by Reps. Henry Waxman (D-Calif.) and Edward Markey (D-Mass.).” (Jim Synder, “Smaller refiners pull climate support,” The Hill, 09/24/09)
As Teague’s tired excuses continue to fall flat with New Mexicans, will Harry Teague ever realize that his destructive policies will continue to put him at odds with his disapproving district?
Background:
• Farm income (or the amount left over after paying all expenses) is expected to drop $8 billion in 2012, $25 billion in 2024, and over $50 billion in 2035. These are decreases of 28%, 60% and 94%, respectively.
• The average net income lost over the 2010-2035 timeline is $23 billion – a 57% decrease from the baseline.
• Construction costs of farm buildings will go up by 5.5 percent in 2025 and 10 percent by 2034 (from the baseline).
• By 2035, gasoline and diesel costs are expected to be 58 percent higher and electric rates 90 percent higher.
• The cost of producing everything from wheat to beef will increase. Indeed, the price deflator for private farm inventories goes up over 20 points by 2035. This increase gets quickly translated into much higher food prices for consumers at the grocery stores. (“For Farmers, Cap and Trade is a Permanent Drought Season,” Heritage Foundation, 6/09/2009)
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