Corn Commentary

Peterson Agrees to Climate Bill Deal

The American Clean Energy and Security Act – better known as the climate change bill – is heading for a vote on the floor this week after all, now that leadership has struck a deal with farm state opponents led by Rep. Collin Peterson (D-MN).

collin peterson“We have something that I think works for agriculture. We still have a couple little areas that may get resolved down the line. But we’ve come to an agreement,” Peterson said yesterday.

Part of the agreement includes allowing USDA to have oversight for agricultural carbon offset programs instead of EPA. “The climate change bill will include a strong agriculture offset program run by the U.S. Department of Agriculture that will allow farmers, ranchers, and forestland owners to participate fully in a market-based carbon offset program,” said Peterson. “This agreement also addresses concerns about international indirect land use provisions that unfairly restricted U.S. biofuels producers and exempts agriculture and forestry from the definition of a capped sector.”

Peterson now says he will vote for the sweeping legislation, and other Democrats on the House Ag Committee who were opposed are likely to do so as well, meaning the bill is now more likely to pass. President Obama even thanked Peterson for his work on the bill during his press conference yesterday. “We all know why this is so important,” the president said of the legislation. “The nation that leads in the creation of a clean energy economy will be the nation that leads the 21st century’s global economy. That’s what this legislation seeks to achieve — it’s a bill that will open the door to a better future for this nation. And that’s why I urge members of Congress to come together and pass it.”

Farm groups also seem happier with the agreement. Read more from the NY Times.