Why The U.S. Is Running Out Of Everything
The United States is experiencing a shortage in rubber, sand and people. Rubber is a critical raw material needed for car tires, personal protective equipment such as masks and gloves, and many more everyday products. Anytime you’re going anywhere, you’re using rubber. Now, supply chain disruptions have thrown the rubber industry into a tailspin. The global rubber market was valued at nearly $40 billion in 2020, but one analysis predicts the natural rubber market could be worth nearly $68.5 billion by 2026. Rubber producers are facing climate change, the Covid-19 pandemic, a destructive fungus and the fight for shipping containers. “We could be on the cusp of a rubber apocalypse,” Ohio State University professor Katrina Cornish told CNBC.
Even though sand can be found in nearly every single country on Earth, the world could soon face a shortage of this crucial, under-appreciated commodity. In the last twenty years, sand use around the world has tripled, according to the UNEP. That’s far greater than the rate at which sand is being replenished.
Additionally, the U.S. is facing an aging population, falling birth rate and economic recession caused by the Covid-19 pandemic. These issues will have huge implications on the size of the workforce and the consumer base.
00:00 What The Rubber ‘Apocalypse’ Means For The U.S. Economy
11:18 Why The World Is Running Out Of Sand
21:11 Is The U.S. Running Out Of People?
Wed, 16 Mar 2022 16:00:12 GMT