Published on January 27, 2016
1. 2016 Presidential Candidates & Agriculture
2. Agriculture, Ethanol and Presidential Politics The presidential election is still 10 months away; however, the countdown to the February 1, 2016 Iowa Caucus is on. Iowa’s early position in the Presidential primary season has both the agriculture and renewable fuels industries paying close attention when it comes to the candidate’s stance on Renewable Fuel Standards (RFS) and Ag and Energy Subsidies. © 2016 Market Edge 2 Historically, when in Iowa, most candidates have espoused their unequivocal support for agriculture (after all, Iowa’s #1 sector is Agriculture & Food Production with #2 being Renewable Energy). This year’s campaign season has already been surprising in several ways. Market Edge has compiled the following review of the candidates and their positions on agriculture issues.
3. Current Residence: Coral Gables, Florida © 2016 Market Edge 3 Ag / Energy Policy Bush’s campaign website emphasizes four key areas to grow domestic energy production: 1) lift restrictions on exports of oil and natural gas 2) approve the Keystone Pipeline 3) reduce overregulation 4) defer to willing states and tribes John Ellis (Jeb) Bush Age: 61 Education: University of Texas (B.A.) Profession: Businessman & real estate investor Political career: Two terms (1999-2007) as Governor of Florida Republican RFS: Accepts law, but only to 2022 Subsidies: Rejects government support
4. © 2016 Market Edge 4 “…whether it’s ethanol or any other alternative fuel, renewable or otherwise, the markets ultimately are going to decide this. At some point, we’ll see a reduction of the RFS need because ethanol will be such a valuable part of the energy piece of our country.” “The innovations that take place on farms are just as impressive as the developments in life saving labs. If Iowa farms can compete in an open marketplace, then it should be allowed to thrive. Federal government has a legitimate role in making sure ethanol has access to the marketplace.” “the government should have a light footprint in the energy world. Which means we should eliminate the subsidies for oil & gas. I don’t think that government should pick winners and losers in the tax code. I think that all of that should be phased out over a period of time. Recognizing that there’s been major investment made, you can’t just turn the whole world upside. There’s sunk costs, billions of dollars have been invested in these areas.”
5. © 2016 Market Edge 5 Republican Benjamin Solomon (Ben) Carson Age: 63 Education: Yale University (B.S.), University of Michigan (M.D.) Profession: Pediatric Neurosurgeon Political career: None Ag / Energy Policy No formal position on domestic energy issues. Current Residence: West Friendship, Maryland RFS: Accepts law, but only to 2022 Subsidies: Rejects government support
6. © 2016 Market Edge 6 “After we seal the borders, after we turn off the spigot that dispenses all the goodies... people who had a pristine record, we should consider allowing them to become guest workers, primarily in the agricultural sphere.” “as far as the RFS is concerned, there were certain promises that were made that extend out until 2022. And many people, you know, invested a lot of time, energy and resources based on those promises that were made. Those promises have to be kept.”
7. © 2016 Market Edge 7 Republican Christopher James (Chris) Christie Age: 52 Education: University. of Delaware (B.A.), Seton Hall University (J.D.) Profession: Lawyer Political career: Two terms as U.S. Attorney for New Jersey (2002-2008), and five years (assumed office in 2010) as Governor of New Jersey (incumbent) Ag / Energy Policy His campaign website indicates we are in the midst of a “North American Energy Renaissance.” The U.S needs to build the necessary infrastructure to get product to markets and ensure the smooth functioning of our energy markets, lift the ban on crude oil exports and allow markets to function as well as rationalize the country’s approach to regulation to make sure it is fair. RFS: Endorses law with gradual government withdrawal Subsidies: Unknown position Current Residence: Mendham Township, New Jersey
8. © 2016 Market Edge 8 “Washington, DC, can help provide the safety net [for the agriculture industry], but they shouldn't be dictating terms. When they dictate terms, they invariably mess it up. There's no way a bureaucrat in a cubicle in Washington, DC, understands these agriculture issues better than the local farmer.” “I have unequivocally supported the RFS. I will implement the RFS as President of the U.S. and support it.” “The more we have, the more choice you’re going to have, the lower prices are going to be, and the better off it’s going to be for America. So we don’t have to depend on anybody else for our energy. Our energy will be right here in the U.S. That’s what I’ll do.”
9. © 2016 Market Edge 9 RFS: Endorses law Subsidies: Endorses government support Democrat Hillary Clinton Age: 68 Education: Wellesley College (B.A.), Yale University Law (J.D.) Profession: Lawyer Political career: U.S. Secretary of State (2009-2013), Senator, U.S. Senate (2001-2009), Candidate, U.S. President (2008), First Lady, President Bill Clinton (1993-2001) and First Lady, State of Arkansas, (1979-1981, 1983-1992) Ag / Energy Policy Her campaign website touts a plan for the nation to continue to develop clean energy sources such as solar and wind power by declaring two major goals: The U.S. will have more than half a billion solar panels installed across the country by the end of her first term, and that the U.S. will generate enough clean renewable energy to power every home in America within ten years of her taking office. Current Residence: Chappaqua, New York (and Washington D.C.)
10. © 2016 Market Edge 10 “The USDA has a successful history of partnering with farmers, rural small businesses, and rural co-ops in deploying renewable energy and energy efficiency solutions. Those programs should be expanded. The RFS & other federal incentives have been a success for Iowa and much of rural America.” “The RFS can continue to be a powerful tool to spur the development of advanced biofuels and expand the overall contribution that renewable fuels make to our national fuel supply. But we also can’t ignore significant changes to the energy landscape since the RFS was expanded in 2007. We have to get the RFS back on track in a way that provides investors with the certainty they need, protects consumers, improves access to E15, E85 and biodiesel blends, and effectively drives the development of cellulosic & other advanced biofuels.” “I support it [RFS] as it is now, because I think it’s the basis for advanced biofuels research. We have airplanes now experimenting with flying on biofuels so this is exciting. I don’t want to do anything that stops the development.”
11. © 2016 Market Edge 11 Republican Rafael Edward (Ted) Cruz Age: 44 Education: Princeton University (B.A.), Harvard University (J.D.) Profession: Lawyer Political career: Solicitor General of Texas (2003-2008), First term U.S. Senator from Texas (assumed office in 2013) Ag / Energy Policy Cruz’s website does not mention his stance on energy or agricultural issues, other than to say he is for cutting regulations to help energy exploration. The primary issues that the website focuses on are National Security, the Constitution, Life, Marriage & Family and Jobs & Opportunity. Current Residence: Houston, Texas RFS: Rejects law, seeks to phase it out in 5 years Subsidies: Rejects government support
12. © 2016 Market Edge 12 “As president, I will end the death tax — which unfairly burdens farmers and ranchers and is a tax on the American dream.” “We should pursue an ‘all of the above’ policy. We should embrace all of the energy resources with which God has blessed America: oil & gas, coal, nuclear, wind, solar, and biofuels & ethanol. But Washington shouldn’t be picking winners and losers.” “I'm fighting for farmers against Washington.”
13. © 2016 Market Edge 13 Republican RFS: Accepts law, but only to 2022 Subsidies: Rejects government support Carleton S. (Carly) Fiorina Age: 60 Education: Stanford University (B.A.), University of Maryland (MBA), MIT Sloan School of Management (M.S.) Profession: Sales for AT&T, President of a division of Lucent, CEO of Hewlett-Packard Political career: Lost challenge to Barbara Boxer for U.S. Senate in California in November, 2010 Ag / Energy Policy Fiorina states that the U.S. Environmental Protection Agency is over-regulating domestic energy projects and output. She says as president, she will work to free up energy regulations to increase energy output. Current Residence Richmond, Virginia
14. © 2016 Market Edge 14 “The Environmental Protection Agency (EPA) is strangling the life out of many agriculture industries with overregulation.” “…let’s have a level playing field from now until 2022, but in 2022, the government needs to get out of all this. Fossil fuels, sugar, corn subsidies – government needs to get out of all of it…” “I support the Renewable Fuel Standard, because renewables have to have the same chance as oils and gas, for example. But what I've said is, over time the government needs to get out of this role. It's not the Federal Government's role to pick winners and losers, and that's what the Federal Government does. Oil and gas was a winner for a long time until pressure was put on government to say, ‘you gotta level the playing field.’”
15. © 2016 Market Edge 15 Republican RFS: Endorses law with gradual government withdrawal Subsidies: Unknown position Michael Dale (Mike) Huckabee Age: 59 Education: Ouachita Baptist University (B.A.) Profession: Author, Ordained minister, Talk show host Political career: Lt. Governor of Arkansas (1993-1996), Two+ terms (10 years) as Governor of Arkansas (1996-2007) Ag / Energy Policy Huckabee supports an “all of the above” strategy: “We should explore and exploit all forms of domestically produced energy — oil, gas, wind, solar, bio-fuels, hydro- electric, nuclear, coal — anything and everything.” Current Residence: Santa Rosa Beach, Florida
16. © 2016 Market Edge 16 “Fuel itself, feeds itself and fights for itself. The RFS is just one bit of the component of the bigger picture of energy independence and energy security.” “Look, we need people to provide ethanol, we need to make this a major priority in our energy component.” “Some people say, ‘Well that is not a very conservative position.’ Folks, let me tell you what’s not a conservative position. If the government tells people to do something and spend millions of dollars and infrastructure to follow a new government mandate, and they do it, and then the same government comes back and pulls the rug out from under them and says, ‘Well, we are not going to do that anymore,’ you’ve just messed up a whole lot of people who made the investment because they trusted their government.”
17. © 2016 Market Edge 17 Republican John Richard Kasich Age: 63 Education: Ohio State University (B.A.) Profession: Author, Lehman Brothers Investment Banking Division (2001-2008) Political career: Ohio State Senator (1979-1982), U.S. House (1983-2001), ran for President in 2000 – dropped out, assumed office as Governor of Ohio in 2011 (incumbent) RFS: Accepts law, but only to 2022 Subsidies: Rejects government support Ag / Energy Policy Kasich encourages research into new technologies to spur domestic energy: “Both the economy and environment benefit from technological breakthroughs. High-capacity, long-life batteries; fuel cells; the high-efficiency ‘smart’ electricity grid; clean coal & other technologies can help improve the environment, increase efficiency and conserve energy.” Current Residence: Bexley, Ohio
18. © 2016 Market Edge 18 “I don't know much about the RFS and what all that means, but we have it in Ohio and I've never supported that [ethanol] subsidy. But I'm not there to shut it down and put a bunch of people out of work in my state.” I'm not big on subsidies. In the meantime, I have people working there [in that industry] so let's try to work it all out. I don't think it's appropriate to continue it in the long term. But you have to have a reasonable solution.” “Increase energy from all sources. More energy from oil and gas, nuclear, coal, alternatives & renewables and emerging technologies will provide the affordable, reliable energy our economy needs.”
19. © 2016 Market Edge 19 Democrat RFS: Endorses law Subsidies: Endorses government support Martin O'Malley Age: 52 Education: Catholic University (B.A.), University of Maryland School of Law (J.D.) Profession: Lawyer Political career: Governor, State of Maryland (2007-2014), Mayor, Baltimore City (1999-2007) Current Residence: Baltimore, Maryland Ag / Energy Policy O’Malley touts his support for a cleaner energy future on his campaign website.
20. © 2016 Market Edge 20 “We must protect strong incentives like the RFS, which drive investments in clean energy and keep renewable fuels competitive.” “I would replace federal subsidies for fossil fuels with a long-term extension of production and investment tax credits. These credits directly benefit homeowners by making technologies like rooftop solar panels affordable, and have been critical to building strong biofuel and wind energy markets.” “It’d be my hope that we continue to keep a high, RFS, and that we actually move into cellulosic fuels. The best way to do that is to keep the standard high. When you lower it, it creates all sorts of uncertainty about policy and direction. If you keep it high then people will see where they can make dollars by advancing the technology.”
21. © 2016 Market Edge 21 Republican RFS: Rejects law, offering alternative Subsidies: Rejects government support Randal Howard (Rand) Paul Age: 51 Education: Duke University (M.D.) Profession: Physician (Ophthalmologist) Political career: First term U.S. Senator from Kentucky, assumed office in 2011 Ag / Energy Policy Paul’s campaign website outlines some of the points his energy policy would focus on which includes, “loosening restrictive government regulations, curbing corporate subsidies and cutting excessive taxation.” Current Residence: Bowling Green, Kentucky
22. © 2016 Market Edge 22 “I’m not for mandates to any sector of the economy.” “My bill would get rid of the Volatility Rule and tell the EPA they can’t limit it. Then I think we’d have ethanol sold year-round that might be at a higher percentage. The goal would be that so much ethanol is produced and sold that you wouldn’t need the RFS mandate anymore. That scares some people. But at the same time, then you’d have a real marketplace and you’d get to the point. So, let’s get the government out of the way to allow more production.”
23. © 2016 Market Edge 23 Republican RFS: Accepts law, but only to 2022 Subsidies: Rejects government support Marco Antonio Rubio Age: 43 Education: University of Florida (B.S.), University of Miami School of Law (J.D.) Profession: Lawyer Political career: Florida House of Representatives (2000- 2009), first term U.S. Senator from Florida, assumed office in 2011 Current Residence: Miami, Florida Ag / Energy Policy Rubio has outlined his energy policy platform on his campaign website, which does not mention ethanol. He outlines three major components to his platform: To achieve our full energy potential in the 21st century, I will follow three guiding principles: 1) optimizing America’s resources 2) minimizing government bureaucracy 3) maximizing private innovation
24. © 2016 Market Edge 24 “We must move towards market-based energy policies where all sources are self- sustainable without government mandates. However, many have made investments based on the RFS law, and I do not support pulling the rug out from underneath them.” “If there’s ever an area where I’ve been willing to use government to assist an industry, it’s been agriculture because it’s an industry that faces unfair global competition and if we lose the industry you can’t get it back.” “I am in favor of supporting all American growers that are in unfair competition versus other nations that have programs subsidizing their programs. I’m not going to do anything that hurts American growers from their ability to compete against foreign competition.”
25. © 2016 Market Edge 25 Democrat RFS: Endorses law Subsidies: Endorses government support Bernie Sanders Age: 74 Education: University of Chicago (B.S.) Profession: Author and Politician Political career: Senator, United States Senate (2006- present), Representative, United States House of Representatives (1990-2006) and Mayor, City of Burlington (1981-1989) Ag / Energy Policy Sander’s campaign website urges for a solution to climate change, noting that the nation should take an aggressive stance toward weatherizing buildings and accelerate technological progress in wind and solar power generation. Current Residence: Burlington, Vermont
26. © 2016 Market Edge 26 “I think as somebody who believes climate change is the greatest global crisis that we face, I think it’s absolutely imperative that we move away from fossil fuel, from oil, from coal, move to energy efficiency and move to sustainable energies. So, I support the RFS.” “The debate should be – how do we make sure that the food our kids are eating is healthy. And having the courage to take on these huge food and biotech companies who are transforming our agricultural system in a bad way.” “We need legislation and efforts designed not to protect factory farming, corporate farming, but to protect family-based agriculture.”
27. © 2016 Market Edge 27 Republican RFS: Endorses law with gradual government withdrawal Subsidies: Unknown position Richard John “Rick” Santorum Age: 57 Education: Pennsylvania State University (B.A.), University of Pittsburgh (M.B.A.), Dickinson School of Law (J.D.) Profession: Lawyer Political career: Two terms in U.S. House (1991-1995), two terms in U.S. Senate (1995-2007) Ag / Energy Policy His campaign website does not address his position on domestic energy, but the website does tout his support for cutting regulations for businesses. Current Residence Great Falls, Virginia
28. © 2016 Market Edge 28 “Four years ago I supported the RFS. I support it now. It’s part of energy mix. It’s a market access provision for me. You got an industry that is vertically integrated — which is the oil industry. And having the industry outside of that, have access inside of the market, is to me a necessity.” “One of the things that's helped rural small towns and farmers, particularly in Iowa, is the RFS. By using ethanol to create independent energy and stable prices, not only can the manufacturing industry thrive in America, it can geopolitically assist other countries.” When questioned on understanding the needs of the farmer, Santorum replied “not only did I serve for 10 years on the Senate Agriculture Committee, I was also the first Pennsylvania senator to serve on the Agriculture Committee.”
29. © 2016 Market Edge 29 Republican RFS: Accepts law, but only to 2022 Subsidies: Rejects government support Donald John Trump Age: 69 Education: University of Pennsylvania (B.S., Economics) Profession: Real estate investor, television personality, author; chairman and president of The Trump Organization Political career: None Ag / Energy Policy No formal position on domestic energy issues. Current Residence: Manhattan, New York (and Palm Beach, Florida)
30. © 2016 Market Edge 30 The RFS displaces Middle East oil with homegrown, domestic fuels. As president, will you support our national security with the Renewable Fuel Standard? Trump answered, “Yes, and a very strong yes. There is no reason not to. We need it. We need every form we can get. Ethanol is terrific, especially with the new process. And I am totally in favor of ethanol 100% and I will support it.” “The farm market will be back and it will be back strong. You do have the advantage of the low fuel costs, which probably solves some of the problem. But, it will be back. Never ever quit, never give up. [Farmers] are great people.”
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