Energy has been the buzzword for quite a while now. Where will we get the energy to power the needs of the world? Can we develop affordable, clean energy? Our energy resources are indeed important but our most important resource and the one that I believe will demand a lot of attention in the near future is water.
Humans can go three weeks without food, but only one week without water. Besides just drinking water, water is essential for our food supply. In a lot of instances, water provides for our electricity (think Hoover Dam). Water is an essential part of our building materials. Trees won’t grow without water. Dry cement is of no value until we add water.
The pictures coming out of California are unbelievable. No snowpack in the Sierra Nevada’s. Dry lake beds. The Governor is asking for decreases in consumption of up to 25%. Then shift to the east coast and the worries of flooding from the record snowfall they received this past winter. Something that we can’t see but that is happening is the depletion of the Ogallala Aquifer. This underground water source provides water to South Dakota, Wyoming, Colorado, Nebraska, Kansas, Oklahoma, Texas and New Mexico. This is the nation’s breadbasket, where the majority of our wheat and corn are produced. What happens if the aquifer goes dry?
As with any problem comes opportunity. How do we get water from where it is plentiful to where it is needed? Can desalinization techniques be developed to convert ocean water into usable water at an affordable price? What products can be developed to help conserve water?
Last night, Deb and I, and the family dog, Riley, had a good game of Frisbee going and after about 30 minutes we called “time.” Deb went inside and brought out two larges glasses filled with ice water and the dog was lying down next to his water dish slurping up what he could between pants. Water, or lack thereof, not energy, will drive the world’s economic decisions in the very near future.
Mike Berry is a Registered Representative offering securities through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Legacy Wealth Management, LLC and Cambridge are not affiliated. Cambridge does not offer tax advice.
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