Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By John Rolls (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Energy Supply Shortages Threatens To Trigger Supply Chain Collapse & Push Prices To Skyrocket! - Epic Economist

% of readers think this story is Fact. Add your two cents.


***Support BeforeItsNews By Trying HerbAnomic Natural Health Building Products Including Humic & Fulvic Liquid Trace Mineral Complex & UltraCur Bio-Available Curcumin—NOW NEW HNEX HydroNano Extracellular Oxygen Delivery System Product–SEE BELOW! Click Here For More Information & To Order!***

EXPERIENCE OXYGENATION AT THE CELLULAR LEVELClick Here

  We’re in the middle of the worst energy supply shortage the world has ever seen in over five decades. Everything you can imagine – from oil to diesel to jet fuel to natural gas – is in short supply right now. In fact, we’re being told that U.S. fuel reserves have hit dangerously low levels, and this is threatening to bring our already stressed supply chains to a halt as truck drivers struggle to bear the brunt of soaring fuel costs. On top of all that, even the nation’s electricity generation capacity is declining sharply, and power grid regulators are warning that extreme weather is likely to trigger rolling blackouts this summer which could result in widespread business shutdowns and potential water shortages. 
In the United States, perilously low inventories of oil products and a shortage of refining capacity have laid the foundations for an oil shortage crisis in the country this summer. At this point, there isn’t anything authorities can do to reverse this situation, as highlighted by Paul Sankey, Lead Analyst at Sankey Research, referring to the fact that a refinery cannot be built in time to ease the gasoline and diesel crunch. Since the onset of the health crisis, over 1 million barrels per day of refinery capacity in America has been shut permanently.The surge in consumer demand since economies reopened and people returned to travel, in addition to lower refining capacity and extremely tight distillate markets have pushed down U.S. fuel inventories to below seasonal averages and at multi-year lows, with record-low inventories reported on the East Coast.

The situation is worrying everyone in the industry – from executives to truckers – everybody is now fearing the devastating effects a fuel shortage can have on the economy in the months ahead. “I’ve seen fuel prices when I started out, a dollar something a gallon and we were squalling even back then. Now 5, 6, 7, 8, 9 dollars a gallon, it’s ludicrous, it’s out of hand, it’s going to drive the trucking industry out,” lamented Bart Costi, who has been a truck driver for decades. This massive shortage of fuels can cripple our already fragile supply chain. “If we don’t have diesel, then we can’t run,” outlines Louis Campion, president and CEO of the Maryland Motor Truck Association. Even the U.S. Oil and Gas Association President Tim Stewart is alarmed about the situation. During an interview, Stewart said the U.S. is in the most challenging energy crisis in the last 50 years and the federal government has “no strategy” whatsoever to help the country get out of record-high gasoline and diesel prices.

At the same time, millions of Americans will be facing electricity shortages in the coming months as extreme weather overwhelms our aging power grid. The regulating authority that oversees the health of the nation’s electrical infrastructure released an alarming report about the dire state of the US power grid going into the summer. In its 2022 Summer Reliability Assessment, the North American Electric Reliability Corporation, or NERC, pointed out that ongoing drought in several parts of the nation and heatwaves “could require system operators to use emergency procedures, up to and including temporary manual load shedding,” – also known as rolling blackouts.

The problem is that energy supplies are so fragile that there just won’t be enough to go around, and power cuts will put lives at risk when heatwaves hits and there are no fans or air conditioners to provide relief from searing temperatures. Without power, the well-being of our population is going to be disrupted. Prolonged outages could also mean that tens of thousands of Americans are at risk of losing access to clean water, the economist added.
If blackouts persist, businesses can face mass shutdowns again, which will consequently bring a huge economic shock.

But energy is not just a part of the economy. In a real, physical sense it is the economy. Energy is essential for everything we do. This means that an energy crisis can quickly become an everything crisis. And now, another disaster is looming. But unfortunately, very few Americans have any idea of just how profound the current energy crisis already is, and is about to become.



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.