Energy and food costs are likely to go up significantly because of the droughts and flooding here in the U.S. and abroad

Why?

Because the droughts and all the flash flooding which are unusual (at least for the last 20 years or so) are making it impossible to grow food when there are more droughts ( in at least 1/2 of the lower 48 states) here in the U.S.

But, along with this when you have droughts you also do not have hydroelectric power generated as water goes downhill through gravity into turbines either. For example, Hoover and other Dams won't be able to generate any power soon at all if this hasn't happened already. 

So, this will have to be replaced by solar, wind and natural gas powered steam turbines throughout the western United States and this will be much more expensive on many fronts than hydroelectric power ever was (once the dams and turbines were paid for mostly years ago now).