{"id":448272,"date":"2026-06-03T08:02:40","date_gmt":"2026-06-03T15:02:40","guid":{"rendered":"https:\/\/climatescience.press\/?p=448272"},"modified":"2026-06-03T08:02:42","modified_gmt":"2026-06-03T15:02:42","slug":"net-zero-just-cut-aussie-wheat-production-by-50","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=448272","title":{"rendered":"Net Zero Just Cut Aussie Wheat Production by 50%"},"content":{"rendered":"\n
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From Watts Up With That?<\/a><\/p>\n\n\n\n

Essay by<\/strong> Eric Worrall<\/a><\/p>\n\n\n\n

Too bad all those Aussie oil refineries had to close.<\/p>\n\n\n\n

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Australian wheat harvest to drop almost 50 per cent as farmers adapt to energy crisis<\/strong><\/p>\n\n\n\n

Cecile Lefort<\/a><\/strong> Markets reporter<\/em>
Updated Jun 1, 2026 \u2013 3.31pm,first published at 12.01pm<\/p>\n\n\n\n

Farmers have drastically scaled back their wheat crops this year in a trend that threatens to worsen the country\u2019s cost-of-living crisis after soaring fuel and fertiliser prices from the Iran war and dry weather prompts growers to rethink the food staple.<\/p>\n<\/blockquote>\n\n\n\n

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The three-month conflict in the Middle East and the closure of the Strait of Hormuz has already triggered a massive shake-up in global agriculture and sent commodity markets into a spin. Rabobank is now forecasting oil prices could spike to an average of $US120 a barrel in the coming months up from about $US70 before the conflict.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

Vincent Carse, a commodity strategist at NAB, warned that Australia was more exposed from disruptions than other large grain-producing countries, owing to its reliance on imports from the Middle East.

\u2026<\/p>\n\n\n\n

To survive the financial squeeze, many farmers are abandoning wheat altogether in favour of lower-maintenance options like barley and canola which is on the rise.

\u2026Read more: https:\/\/www.afr.com\/markets\/commodities\/energy-crisis-prompts-wheat-farmers-to-slash-crops-this-year-20260531-p602fe<\/a><\/p>\n<\/blockquote>\n\n\n\n

Australia was on the brink of moving to correct this disaster, back in March P<\/a>r<\/a>emier Crisafulli announced a Queensland Government backed oil refinery and fuel storage programme<\/a>.<\/p>\n\n\n\n

Then the Australian Federal Government decided now was a good time to crash risk taking business investment, by announcing a major hike in capital gains tax, a programme to treat profits from capital gains as equivalent to employee wage income<\/a>. A legislative minimum of 30% of any profit investors make from starting a new business then selling the business as a going concern now ends up in the pockets of the Australian Federal Government.<\/p>\n\n\n\n

There has also been a well funded left wing campaign to demonise extractive industries in Australia and demand even more taxes on energy extraction, by caricaturing gas executives as sneaky cheats.<\/p>\n\n\n\n

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