A new bill to eliminate sales of new internal combustion-powered passenger vehicles by 2035 would be disastrous for Iowa farmers, the state’s robust biofuel industry and all rural Iowans, the Iowa Farm Bureau Federation (IFBF) said last week.
A potential to devastate farmers
A recent study conducted by the University of Tennessee and released by the Agricultural Retailers Association found that banning combustion vehicle sales by 2035 would devastate grain markets by pushing prices down to $1.74 a bushel for corn and $4.92 a bushel for soybeans, noted Craig Hill, a Warren County crop and livestock farmer and IFBF president. “The study estimated...
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