Food prices to explode?-----Is the Dakota Access Pipeline Next? Experts Reveal What Will Happen to Food Prices if Biden Shuts Down This Pipeline

Is the Dakota Access Pipeline Next? Experts Reveal What Will Happen to Food Prices if Biden Shuts Down This Pipeline

"...Agricultural economist Elaine Kub said that there are ripple effects to consider, because if oil from the Bakken Shale in North Dakota ends up being transported by rail instead of by the pipeline, farmers selling their products will suffer.

“If DAPL is shut down and a portion of the crude oil currently transported on the pipeline is shifted to the limited available rail car capacity, I estimate that the agricultural industry would lose more than $1 billion in annual farm revenue across the Corn Belt (Iowa, Illinois, Indiana, Ohio, Michigan, Wisconsin, Minnesota, North Dakota, South Dakota, Montana, Wyoming, Colorado, Nebraska, Kansas, Missouri, Oklahoma, Texas), while higher transportation costs would simultaneously drive up food costs for consumers,” Kub said in a court filing last spring in defense of the pipeline.

“The revenue losses would force farmers and processors to go out of business, eliminating jobs...where rail congestion and delays caused by this increased volume would be most acute,” she wrote.

She then explained why food prices are connected to an oil pipeline...Read all.