9/16/2016
By Charles Payne, CEO & Principal Analyst

On May the 24th, I wrote a commentary about the Left rejecting Science.  Today, news from the European Commission authorizes GMOs for food/feed use.  Say what? Here is the news. ​

EU News 

Today, the European Commission authorised the placing on the market of products containing, consisting of, or produced from GM maize Bt11 x MIR162 x MIR604 x GA21, four related GM maizes combining three different single GM events (Bt11 × MIR162 × MIR604, Bt11 × MIR162 × GA21, Bt11 × MIR604 × GA21, MIR162 × MIR604 × GA21), and six related GM maizes combining two different single GM events (Bt11 × MIR162, Bt11 × MIR604, Bt11 × GA21, MIR162 × MIR604, MIR162 × GA21 and MIR604 × GA21). These GMOs had gone through a full authorisation procedure, including a favourable scientific assessment by EFSA.

The GMOs approved today had received "no opinion" vote from the Member States in both the Standing and Appeal Committees and the Commission decided to adopt this pending decision.

The authorisation decision – which does not cover cultivation - is valid for 10 years, and any products produced from these GMOs will be subject to the EU's strict labelling and traceability rules.

The Left Rejects (Real) Science

(May 24, 2016 Morning Commentary)

The world has always veered toward disaster warnings rather than solutions (just ask the news media, which grabs the most eyeballs) and sometimes in the process, creates avoidable disasters. Intriguingly, there is so much opposition to this scientific miracle, when feeding the world was once the biggest cloud over humanity. There was a significant fear of mass starvation; even in the west, there was a scramble to head off this inevitable plague.

This fear was spread throughout Europe upon the publication of An Essay on the Principle of Population by Thomas Malthus in 1798.

Over the years, such concerns about food and commodity shortages have shaped policies, mostly toward disastrous ends.  Instead of this nonsense, we should celebrate a growing population that’s living longer.

A Real Science Revolution

Theophrastus

Carl Linnaeus

Gregor Johann Mendel

George Washington Carver

Norman Borlaug

The history of botany has many famous names, beginning with the Father of Botany, to the man whose work is said to have saved one billion people. On that list, I would add the name of a company- Monsanto.

These days, I know it’s a lot cooler to hate on the creator of Frankenstein food that has been the scorn of elites since their unveiling. 

Even before the seeds that developed these magical foods could get into the food supply, we heard the horror stories and warnings about their negative impact on society.

Those stories never went away; in fact, it became lore among hipsters throughout the western world.

Green Revolution

Every time we push ourselves from the table after a hearty meal, we should say a quiet thanks to Norman Borlaug.  Born in Iowa in 1914, Borlaug lived through the Great Depression and the ‘Dust Bowl’ that choked off food production in wide swathes of the nation.  He later surmised that the ‘Dust Bowl’ was the result of an “insufficient application of technology,” essentially stating it was avoidable.

Borlaug came along just as a modern-day version of Malthusian thoughts was gaining traction with the publication of The Population Bomb by Paul Ehrlich in 1968. At the time, India was in the midst of two years of severe drought when Ehrlich proclaimed there was no program that could save the subcontinent from millions of starvation deaths.  Ultimately, he was saying that the country could never hope to feed 200 million citizens.

However, at that point, Borlaug was already working his magic in Mexico, where he developed a miracle breed of dwarf wheat resistant to a variety of pests and diseases, while also producing up to three times more grain.  India took note, charting a 707 to bring in thousands of metric tons of this miracle wheat.  Norman Borlaug worked with local farmers in India and Pakistan.

It is estimated that he saved a billion people with his modified wheat product.

Borlaug went on to win the Noble Peace Prize in Botany in 1970, and is known as the Father of the Green Revolution.

Food Security

If Monsanto is ever bought by Bayer or some other rival (BASF has been mentioned as a potential suitor as well), it would create a global food behemoth.   The company would compete against Syngenta, which is in the process of being acquired by ChemChina; a merged Dow, and DuPont. The $130 billion merger will result in three separate traded companies with the agriculture unit, a fraction of its global competitors. 

Think of population growth outside the western world, and there will be enormous demand for food.  Even in Europe, the public relations aspect that’s virtually barred these seeds and foods from the continent will eventually come down over the need to feed people.

Meanwhile, Monsanto has had lofty goals that will positively impact mankind.

Click here to leave a comment.

Charles Payne
Wall Street Strategies

Add a Comment!