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Will the United States Be Surrounded by Winter Demand?
In case the United States faces a shortage of critical supplies of certain commodities this winter, the ramifications could be felt far and wide. If food prices spiral upward, or fuel prices spiral upward, or energy prices spiral upward, the consequences could be catastrophic. And if there is a worldwide shortage of some essential raw materials, which could happen if extreme weather conditions are ever experienced, the effects could be calamitous for the global economy. Let's not forget about the possible impact on the stock market, which would certainly cause chaos in the market and in world currencies.
What then should we do to avoid anticipated shortages? There are a few solutions to this problem, and they're not all pie in the sky. First, the United States must commit itself to a massive inventory of reserve resources in case of a shortage. This includes petroleum, which is the world's most important source of energy. It also includes natural gas and crude oil.
The United States must also commit itself to an intensive research and development program for alternative sources of energy. Unfortunately, the reality of today's world means that most of our conventional energy sources are limited. In order to avoid potential shortages of critical petroleum products, we need to invest in research to develop alternative fuels. Many scientists are forecasting that in the next 50 years, we will face severe shortages of most of our fuels, including coal, natural gas, oil, and natural gas.
In the past, the United States has always been able to overcome supply problems. During the Second World War, the country was able to build up massive stockpiles to face shortages of different types of food. And the nation's industrial base was also built to deal with expected shortages winter 2021 of fuel. However, these days the United States has lost its ability to easily plan for and overcome expected shortages in its primary sources of energy.
It is very important for all Americans to understand how important it is to develop alternative energy resources to meet the nation's energy needs. But it will take a significant commitment from all Americans, local as well as federal, to do so. We must not allow the nation's dependence on foreign oil and the related threats to our security to go unnoticed. With all of the distractions that take place in Washington DC, it is easy to lose sight of what's really important. But the sooner we address the expected shortages in our domestic supply of energy, the sooner we can all move on to other matters.
In the coming years, many of our largest energy consuming nations will face shortages in their source of primary energy. Some experts predict that by the mid-2021st century, the United States will face severe difficulties in meeting its energy demand. They predict that by the end of the next ten years, the United States will be unable to satisfy its own energy needs. While this may be true in some regards, it does not necessarily mean that the United States will be completely left in the dark. We are able to make changes today, and if current trends continue, we will experience much better results in the future. Now is the time to act, and the only way to act is through a reexamination of our national priorities.
When the United States begins to reevaluate its energy priorities, it behooves us to look at those nations which are most heavily dependent upon oil supplies. It is a given that many of these countries have political challenges, large increases in population, or limited access to new sources of fuel. But it is also a fact that these nations are expected to experience major shortfalls in their ability to satisfy their own energy demands, and in the most extreme cases, these nations could find themselves sitting on top of the world's oil supply, isolated and unprepared.
The good news is that the United States is not immune from these expected shortages and shortfalls. For example, India is expected to experience shortfalls in its energy needs during the decade. Similarly, China, while it has a huge economic advantage over the United States, due to its large domestic consumption and huge investment in infrastructure, will also face significant shortfalls during the next few years. And, as we all know, Russia is expected to implement nuclear power, which will increase its dependency on the United States for energy as well. All these issues, however, should never be used to convince the American people that the United States should cut back on our nation's dependence on foreign oil. Instead, the only realistic discussion should be about how all of us can work together to develop alternative energy sources in order to reduce the risks of future expected shortages and shortfalls.