The other side of the coin

20 07 2012

The drought is going to complicate things, that’s for sure.  How bad it will be, and what effects it will have, is as yet unclear.  However, it does illustrate something I’ve been considering for some time.

I recall a former pastor at my church bemoaning the US economy.  He complained that the US was 5% of world population and consumed 40% of resources (or some such PC crap).  I asked him to consider what percentage of world production was generated by that resource usage, but he would not credit that view.

How does that relate to the drought (I hear you ask)?  Consider this:  from the Financial Times

The drought in the US, which supplies nearly half the world’s exports of corn and much of its soyabeans and wheat, will reverberate well beyond its borders, affecting consumers from Egypt to China.

http://www.ft.com/intl/cms/s/0/9989dc80-d1c5-11e1-badb-00144feabdc0.html#axzz21ADWXAWW

I would submit that 40% of the resources producing 50% of the exported food is not a bad utilization of resources.  And that does not take into account any other contribution by the US, such as the demand created for products produced for export by other countries, IP produced, and the positive effect of US leadership (what little of it there is now).

Just some food (as it were) for thought.

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