The looming arrival of Hurricane Milton has sparked significant concern in international business, with the Category 5 storm bearing down on a key industrial and export region in the Atlantic. As Milton accelerates towards the U.S. Gulf Coast and Central America, experts predict widespread disruptions in the global supply chain, manufacturing, and energy sectors.
globalEDGE Blog - By Tag: natural-resources-development
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Hurricane Ian, a Category 4 storm, has caused many American citizens to be forced out of their homes or has left no infrastructure for them to return to. The storm first struck the coast of Fort Myers before migrating toward the Carolinas, leaving communities demolished by wind and flooding, ultimately forcing businesses to shut down and leaving Florida with billions of dollars in reconstruction. The damage caused so far has been introductory, but it is evident that the hurricane will be highly disruptive to Florida’s economy over the next ten days with power shortages, suspension of energy production, impact on agricultural crops such as oranges, and flight cancellations.
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Across the globe, water scarcity is beginning to affect more and more people. Climate change, broken pipes, and poor water infrastructure systems have all played a role in causing water scarcity for residents in various parts of the world.
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On January 15th, 2022, the country of Tonga was shaken up by the Hunga Tonga, an underwater volcano erupted and disrupted the entire country. A volcano, with a force equal to 500 Hiroshima nuclear bombs, has filled the sky with a sulfuric cloud compromising the natural resources in Tonga. With a population of 100,000 citizens, a small oceanic country is facing the dreadful repercussion of this natural disaster.
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The preservation of natural environments and resources is immensely important in the most universal of ways. Preservation helps to stabilize and ensure the habitability of different regions, while also protecting the rest of the earth from rapid changes in the climate. While this is reason enough to advocate protection of the wilderness, destruction of natural areas can negatively impact the economy by disrupting supply systems and resource production. For these reasons, it is crucially important to observe and respond to natural disasters and threats as they occur.
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This past week, the Obama Administration cleared a plan to override federal regulations on oil drilling off of Alaska's coast in the Arctic Ocean. The proposal is intended to establish drilling standards for the Chuckchi and Beaufort Seas, both of which are believed to be abundant in fossil fuels, and follows a growing emphasis in the international system on the Arctic's natural resources. Last January, 1,400 participants from several countries gathered in Tromsø, Norway to stake their claims at the Arctic Frontiers conference. Russia's increasing interest in the region, coupled with its growing military presence throughout international waters, gave the conference unprecedented significance.