01 Nov '11, 6pm

Texas toast: State’s drought-crippled ag market has global impact

Lakeview Park, Texas. Photo: dasroofless Cross-posted from Climate Progress . In August, agronomists showed that the historic drought in Texas had caused a stunning $5.3 billion in losses in the agricultural sector. Two months later, even with some rain finally coming to the state, Texas farmers are being crippled by a drought that could stretch beyond next summer. As the economic losses pile up, they are having an impact on global commodities like cotton and beef -- stretching this crisis well beyond the state of Texas, and showing just how "global" the problem of global warming truly is. Kate Galbraith reported on the "catastrophic drought " for The New York Times : Some of the farthest-reaching effects may be on world cotton markets. Texas produces about 50 percent of U.S. cotton, and the United States in turn grows between 18 and 25 percent of the world's cotton, accor...

Full article: http://www.grist.org/climate-policy/2011-11-01-texas-toas...

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