Last week saw the release of a number of globally acclaimed reports. They were all indicative of the doomsday of the world. While many point to the food crisis facing the world, some reports are reminiscent of the energy crisis and the darkness that lies ahead, which could lead to climate change. Another bizarre report was from Oxfam, the plague. The report explains that the world is creating hundreds of new billionaires. All these reports are a reminder that the responsibilities of mankind and governments are increasing as they emphasize the unparalleled disasters that war, climate change, energy crisis and inflation are going to bring to the world.
According to a report by the Eurasia Group and Dwight Beavis Sustainable Strategies on food security and the impending disaster, the global food crisis, which began in May, is expected to intensify by November. The United Nations has warned that global wheat stocks are at their lowest level since 2008. According to Grow Intelligence, which works in the field of climate and agricultural research, there is only two and a half months of wheat left to be distributed in the world. There have also been reports that a global war on wheat is imminent. Although the production slowdown caused by climate change was one factor, the Russia-Ukraine war led to the immediate crisis. Both are major exporters of wheat to the rest of the world. In 2021–22, Russia’s share will be 16 percent and Ukraine’s 10 percent. Prior to the war, Russia restricted exports of grain to Eurasian countries, including wheat, barley, and corn, until June 30. Sanctions against Russia make it impossible for global exporters to import. The European Union (EU) has banned imports through the Novo Rosicruz commercial port on the Black Sea. It accounts for half of Russia’s grain exports.
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Kazakhstan, a wheat-producing country, also announced its own restrictions. Although Mani initially pretended to feed the world, the ban was announced when it came close to reality. The ban was announced at a time when inflation was soaring and the people of the country were starving. When all this is combined, there is a huge increase in the price of cereals – especially wheat – globally. In Chicago, the price of 18.62 kg wheat rose by 6% to $ 12.47. Europe hit an all-time high of $ 461 a tonne last week. In the global market, prices have risen by as much as 42 percent. African countries, which import 90 percent of their wheat needs from Black Sea countries, including Russia, are facing a major crisis and rising prices. That’s why UN Secretary – General Antonio Guterres warned last month that one – fifth of the world’s population is at risk of poverty. Western nations blame Russia for the war. Russia has blamed the sanctions.
Russia has not banned exports. Their explanation was that restrictions were imposed to ensure domestic availability. Only temporary taxes and quantity restrictions were imposed. It has been suggested that not only Russia and Ukraine are major wheat producers, but also other wheat-producing countries are responsible for the crisis. The US and Canada are the top exporters of 26 and 25 million tonnes of wheat, respectively. It accounts for 25 per cent of global exports. France and Germany are also the leading exporters. Therefore, it has been suggested that these countries should be prepared to stockpile and export what they need. But all these countries are taking the position that they are stockpiling more than they need. At the global level, those countries are worried that rising fuel and electricity prices and inflation will affect them. Economists and agronomists are in a dilemma as to how far the wheat crisis will go or how it will be resolved. It is also due to the potential problems in future production due to climate change. Shortage of fertilizers and pesticides and high inflation are affecting production. Therefore, experts say that it would not be surprising if a global war for wheat were to take place.
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There have been reports and studies that extreme heat as part of climate change is leading the world’s major nations into an energy crisis. Reports indicate that there will be a major crisis in power generation in a decade and that severe power restrictions are likely. Energy production and storage systems are facing a major crisis due to drought-induced production, inability to find new ways and the repercussions of the epidemic. Extreme temperatures are expected in most parts of the Northern Hemisphere. Therefore, power consumption has reached a very high level. Although the energy crisis can be overcome temporarily through controls, the repercussions are many. Decreases in industrial production, disruptions in water supply and adverse effects on food production are all by-products of the energy crisis. Excessive heat can cause problems in the body and cause disease. For India alone, the energy crisis is projected to reduce GDP by five per cent.
Despite concerns about the impending global food crisis, energy shortages and the epidemic that is looming, the Oxfam report that there was a billionaire every 30 hours during the epidemic came around the same time. The Oxfam report that there were 573 new billionaires during the Kovid epidemic in the country is in stark contrast to the forecast that 2.6 million new people will starve this year. The report is titled Those Who Benefit From Pain. Opportunities opened up in the field of health and research as a result of contagious diseases have benefited the rich. At the same time, rising prices in the energy and food sectors have led to the creation of the new rich and the increase in the wealth of the super rich. As the number of the rich and wealthy increase, so does the number of the poor. There are currently 2,668 billionaires in the world, according to Oxfam. Their total wealth increased from 4.4 percent of world GDP in 2000 to 13.9 percent now. According to the report, one billionaires is born every 30 hours, and 10 million new starving people are created in 33 hours. Gabriela Butcher, Executive Director, Oxfam International, said: Butcher says the emergence of new billionaires and the surge in existing revenues is not due to their hard work, but to the breakdown of the system. The proposal to reform the tax structure of the super rich has been put forward many times but the vast majority of countries in the world are not ready to consider it. That is why all reports warn that a frightening future awaits mankind.