http://beforeitsnews.com/economy/2012/08/mississippi-river-is-drying-up-as-food-prices-continue-to-surge-2448578.html
Michael Snyder: The worst drought in more than 50 years is having a devastating impact, as 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 60 percent of our grain, 22 percent of our oil, and natural gas, and and one-fifth of our coal travel down the Mississippi River, that would be absolutely crippling for our economy costing the U.S. economy 300 million dollars a day.
A dredging vessel churns in the Mississippi River in Greenville, Miss., Tuesday. The Coast Guard said Wednesday the Mississippi River is closed to shipping again after a barge grounded near Greenville, Miss.
and at the pertinent portions , Michael Snyder discusses the ongoing problems from the drought impacting commerce....
Mississippi River Is Drying Up As Food Prices Continue To Surge
Friday, August 24, 2012 13:34
The Coast Guard says the Mississippi River is closed to shipping again after a barge grounded near Greenville, Mississippi. An 11-mile stretch of the Mississippi south of Memphis, Tennessee, was reopened to limited vessel traffic late Tuesday after dredges were able to clear a channel. Petty Officer Ryan Tippets said crews were working Wednesday to refloat the vessel and allow limited barge traffic to resume..
Michael Snyder: The worst drought in more than 50 years is having a devastating impact, as 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 60 percent of our grain, 22 percent of our oil, and natural gas, and and one-fifth of our coal travel down the Mississippi River, that would be absolutely crippling for our economy costing the U.S. economy 300 million dollars a day.
In some areas the river is already 20 feet below normal and the water is expected to continue to drop. If commercial travel is no longer possible, it would be an absolutely devastating blow to the U.S. economy.
and....
http://www.foxnews.com/us/2012/08/22/mississippi-river-closed-after-barge-grounded/#ixzz24IRyltf4
Mississippi River closed after barge grounded
Published August 22, 2012
Associated Press
NEW ORLEANS – The Coast Guard says the Mississippi River is closed to shipping again after a barge grounded near Greenville, Miss.
An 11-mile stretch of the Mississippi south of Memphis, Tenn., reopened to limited vessel traffic late Tuesday after dredges were able to clear a channel.
Petty Officer Ryan Tippets said crews were working Wednesday to refloat the vessel and allow limited barge traffic to resume. It's not clear when the river will reopen.
Tippets says 33 northbound vessels were able to pass through the area before the grounding.
Low water is expected to hinder the flow of cargo from the nation's heartland until October.
A prolonged river shutdown could hamper operations of the busy port upriver from New Orleans that handles U.S. grain for export.
and more on the barge grounding...
http://www.nola.com/weather/index.ssf/2012/08/mississippi_river_closed_again.html
The Coast Guard says the Mississippi River is closed to shipping again after a barge grounded near Greenville, Miss. An 11-mile stretch of the Mississippi south of Memphis, Tenn., reopened to limited vessel traffic late Tuesday after dredges were able to clear a channel.
A dredging vessel churns in the Mississippi River in Greenville, Miss., Tuesday. The Coast Guard said Wednesday the Mississippi River is closed to shipping again after a barge grounded near Greenville, Miss.
Petty Officer Ryan Tippets said crews were working Wednesday to refloat the vessel and allow limited barge traffic to resume. It's not clear when the river will reopen.
Tippets says 33 northbound vessels were able to pass through the area before the grounding.
Low water is expected to hinder the flow of cargo from the nation's heartland until October.
A prolonged river shutdown could hamper operations of the busy port upriver from New Orleans that handles U.S. grain for export.
and at the pertinent portions , Michael Snyder discusses the ongoing problems from the drought impacting commerce....
http://theeconomiccollapseblog.com/archives/8-economic-threats-that-we-were-not-even-talking-about-at-the-beginning-of-the-summer
#2 Historic Drought
This summer, the United States has experienced the worst drought that it has seen in more than 50 years.
This weather has been absolutely crippling for farmers and ranchers all over the nation. As I wrote about the other day, about half of all corn being grown in the U.S. is currently either in "poor" or "very poor" condition.
As the drought has dragged on, many farmers and ranchers have become increasingly desperate. In fact, one farmer has even been feeding his cows candy in an attempt to deal with rising feed prices.
Needless to say, this drought has been causing commodity prices to soar.
On Tuesday, the price of corn closed at a record $8.38 a bushel, and the price of soybeans closed at $17.30 a bushel.
#3 The Mississippi River Is Drying Up
Thanks to this drought, rivers and lakes all over the United States are drying up. In fact, there have been reports that millions of fish have been dying because water levels have gotten so low in many areas.
Even the mighty Mississippi River has dropped to dangerously low levels.
At this point, the Mississippi is lower than most people living along the river can ever remember. If it drops much lower, it could potentially have an absolutely devastating impact on the U.S. economy.
A recent NBC News report described what is at stake....
About $180 billion worth of goods move up and down the river on barges, 500 million tons of the basic ingredients for much of the U.S. economy, according to the American Waterways Operators, a trade group. It carries 60 percent of the nation’s grain, 22 percent of the oil and gas and 20 percent of the coal, according to American Waterways Operators. It would take 60 trailer trucks to carry the cargo in just one barge, 144 18-wheeler tankers to carry the oil and gas in one petroleum barge.
If all traffic along the Mississippi was forced to stop, it is estimated that it would cost the U.S. economy about 300 million dollars a day.
And already there have been stoppages along one 11 mile stretch of the river....
Nearly 100 boats and barges were waiting for passage Monday along an 11-mile stretch of the Mississippi River that has been closed because of low water levels, the U.S. Coast Guard said. New Orleans-based Coast Guard spokesman Ryan Tippets said the stretch of river near Greenville, Miss., has been closed intermittently since Aug. 11, when a vessel ran aground.So what happens if the Mississippi gets even lower?
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