The Mississippi River Is Drying Up As Food Prices Continue To Surge
By Michael Snyder, ETF Daily News -”The worst drought in more than 50 years is having a devastating impact on the Mississippi River. The Mississippi has become very thin and very narrow, and if it keeps on dropping there is a very real possibility that all river traffic could get shut down. And considering the fact that approximately 60 percent of our grain (NYSEARCA:JJG), 22 percent of our oil (NYSEARCA:USO) and natural gas (NYSEARCA:UNG), and and one-fifth of our coal travel down the Mississippi River, that would be absolutely crippling for our economy. It has been estimated that if all Mississippi River traffic was stopped that it would cost the U.S. economy 300 million dollars a day. So far most of the media coverage of this historic drought has focused on the impact that it is having on farmers and ranchers, but the health of the Mississippi River is also absolutely crucial to the economic success of this nation, and right now the Mississippi is in incredibly bad shape. In some areas the river is already 20 feet below normal and the water is expected to continue to drop. If we have another 12 months of weather ahead of us similar to what we have seen over the last 12 months then the mighty Mississippi is going to be a complete and total disaster zone by this time next year.
Most Americans simply do not understand how vitally important the Mississippi River is to all of us. If the Mississippi River continues drying up to the point where commercial travel is no longer possible, it would be an absolutely devastating blow to the U.S. economy.
Unfortunately, vast stretches of the Mississippi are already dangerously low.” Read more.
Closing The Mighty Mississippi Will Affect People All Over The Country – “The Mississippi river is drying up and some shipping companies are worried that the drought of 1988 may be repeated, a time when the river dried up so much that barge traffic came to a standstill. In 1988 the shipping industry lost $1 billion, a number that would be far higher in 2012 and could be reached in as little as three days. Almost all of the rivers 2,500 miles are experiencing some type of low water level. Just outside of Memphis the river is 13 feet below normal depth while the National Weather Service says Vicksburg, Mississippi is 20 feet below normal levels… Closing the Mississippi will affect people all over the country, barges, tugboats and towboats ship petroleum, grain, fertilizer, sand, gravel, steel and other items that will raise in price if their means of transportation are severed for much of the United States. According to Time, ‘About 60% of the country’s grain exports and one-fifth of its coal is transported along the nation’s inland waterway system.’” Read more.