Ag Committee Approves Bipartisan Legislation to Reauthorize and Improve the Commodity Futures Trading Commission
The House Agriculture Committee approved H.R. 4413, the Customer Protection and End-User Relief Act, by voice vote.
The cost of a national cap and trade system is good paying manufacturing jobs in rural America. This is according to a recent study from Charles River Associates International (CRA) and The Fertilizer Institute.
The study highlights the estimated economic contributions of the U.S. fertilizer manufacturing industry in 2006. It also explains how a national cap and trade system, as envisioned in the Waxman-Markey bill (H.R. 2454), will jeopardize the domestic fertilizer industry, which is critical for food production, food security, and a healthy U.S. economy.
Ranking Member Frank Lucas recently visited one fertilizer plant in his Oklahoma district to emphasize the real risk of losing American jobs if the Waxman-Markey bill becomes law. Koch Nitrogen Company, LLC in Enid Oklahoma employs roughly 100 people plus numerous contractors. These jobs have an average compensation of $76,000, which is almost 80 percent greater than the U.S. average compensation across all industries. A national cap and trade system could force this plant to close because it would drive up the price of natural gas, which is critical for fertilizer production.
Highlights of the economic contributions of the U.S. fertilizer manufacturing industry:
Impact of cap and trade system on U.S. fertilizer manufacturing industry: