Oil and Terrorism in the New Gulf: Framing U.S. Energy and

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S. farmers and ranchers, including developments in the oil and natural gas markets, and energy taxes or subsidies. … Higher energy-related production costs would generally lower agricultural output, raise prices of agricultural products, and reduce farm income, regardless of the reason for the energy price increase. [29] Report: “The Impact of Ethanol Use on Food Prices and Greenhouse-Gas Emissions.” Congressional Budget Office, April 2009. < www.cbo.gov > The impact of higher prices for food will probably be greater in other countries than in the United States because the percentage of households’ income that is spent on food in those other nations is larger and the value of commodities makes up a bigger share of the cost of food. (In 2007, the share of spending for goods and services that a household allocated to food purchases for consumption at home was less than 6 percent in the United States but more than 32 percent in India.)38 In contrast to countries that export commodities, countries that import a large percentage of their food will also be adversely affected by rising global prices for commodities.

Pages: 344

Publisher: Lexington Books (March 7, 2006)

ISBN: 0739109898

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