The agricultural sector relies heavily on affordable energy — especially petroleum-based energy — to stay competitive. The cost of crude oil and natural gas directly impact a farmer’s ability to maintain a healthy bottom line, driving the price of necessary expenditures like diesel fuel, irrigation, fertilizer and lubricants.
In addition to these direct ties, the agricultural sector — especially in the Upper Midwest — has perhaps an even stronger financial interest in the policies that determine the path forward for our nation’s energy sector: shipping costs.
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