# The Economics of Natural Resources Today

By Energy · Published 2023-09-04 · Updated 2026-03-19 · Energy on MarketScale
Canonical: https://www.marketscale.com/industries/energy/economics-of-natural-resources-today

> Energy costs can consume up to 80% of production expenses in modern agriculture, reshaping how farmers compete globally

## Key points

- Energy costs can consume up to 80% of production expenses in modern agriculture, reshaping how farmers compete globally

Block Field

In this episode of [Gasonomics](https://marketscale.com/shows/gasonomics/), host [Tim Snyder](https://www.linkedin.com/in/timothy-s-snyder-6037955a/) dissects the intricate relationship between energy and agriculture with his guest, **Dr. Darren Hudson, Ph.D.**, the Larry Combest Endowed Chair for Policy and Director for the Agricultural Competitiveness at **Texas Tech University**. The pair highlight the significant role energy plays in the agricultural sector. From the production of seeds to the transportation of goods, energy costs can account for up to 70-80% of total production costs in irrigated systems. 

From the production of seeds to the transportation of goods, energy costs can account for up to 70-80% of total production costs in irrigated systems.

With the rising concerns over global energy dynamics, especially with recent developments within the [BRICS](https://www.reuters.com/world/brics-poised-invite-new-members-join-bloc-sources-2023-08-24/) nations, the interdependence of feed and fuel becomes even more evident.

Tags: Dr. Darren Hudson, Gasonomics, natural resources today, oil and gas industry, Texas Tech University, Tim Snyder

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