from The Daily Bell:
Sand is essential for modern construction. Almost every new office tower, road and shopping mall being built in Asia’s booming cities is made with concrete mixed with sand. And to get more sand, companies and people are pulling sand out of rivers and oceans at an unprecedented rate, say scientists. And in the deep ocean waters off the U.S., sand is being excavated to restore coastlines from Louisiana to New Jersey. Some estimate that extracting sand is a $70-billion industry. Diane and a panel of guests take a look at the increasing demand for sand, and concerns about the impact of dredging on river and ocean life worldwide. -thedianerehmshow.org
We’ve been writing about elite scarcity memes for so long that we are always surprised when find a new one, especially a big one.
But here it is: We’re running out of sand.
Now even though we’re being told we’re running out of sand by such publications as The New York Times (see below), we’re not sure we believe it.
We were told for years about the dangers of peak oil, and it turns out there’s a lot more oil in the world than we were taught.
In fact oil is probably abiotic, made at least partially deep down in the earth as a result of geological processes.
Any time an industry can establish the rarity of its product or services, prices can be elevated. Whether it is oil, water, food … or sand, perceived scarcity is helpful.
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