Barry Asmus sounded a hopeful note for agriculture at the North Dakota Soybean Expo.

Soybean demand will rise as more countries pull themselves out of poverty, predicted Asmus, a senior economist with the National Center for Policy Analysis.

Asmus and theologian Wayne Grudem outlined a plan for combating poverty around the world. In their book, “The Poverty of Nations,” they wrote that the solution to poverty lies in a comprehensive development plan that integrates the principles of a free market system with the Bible’s teachings on social ethics. They keys are personal freedom, the rule of law, private property, moral virtue and education. When combined, they create economic prosperity and long-term stability.

Barry Asmus holds the book "The Poverty of Nations" that he co-wrote as he makes a point about the growth potential for soybeans.

Asmus said he hoped that by 2050 there will be fewer people living in poverty than there are now.

Asmus answered questions from the audience on several related topics, including:

Oil prices. Oil prices will recover, but not to $100 per barrel, he said. Prices could settle at $25-$40 a barrel. Never again will the Middle East have a strangle hold over the United States, he said. When oil prices get high enough, “thousands of small oil companies will resume fracking oil in the U.S.,” he said. “We are going to move to a world of lower priced gasoline.”

Ethanol mandates. A free trade advocate, Asmus said he is not in favor of ethanol mandates. The free market should determine whether ethanol is be blended with gasoline. The government shouldn't pick winners and losers. Given current low prices for gasoline, ethanol doesn’t have much of a future. “It doesn’t make sense to use corn that way,” he said.

Ag subsidies. “They are an “addiction,” Asmus said. Members of his own family raise sugarbeets in Colorado. Though they are Republicans and believe strongly in free markets, they are not willing to give up the sugar program, he said.