Backed up supply chain and energy crisis raising concerns
공급망 차질 지구촌 '아우성'...'그린플레이션' 복병에 발목 The backed-up supply chain that began with a shortage of semiconductors is spreading in every direction, ranging from marine transport, and energy to food,... and its negative effect are already trickling down to businesses and the consumer. On top of that bottleneck, a global energy crisis is fueling a spike in fuel prices. Eum Ji-young has more. Major fast food chains in South Korea including Lotteria and McDonald's are experiencing an unprecedented shortage of french fries. This happened due to the delay in french fry imports from the U.S. amid the strained marine logistics system. At the port of Los Angeles, there are more ships than docking spots,... and dozens of cargo ships loaded with goods are trying to get into port. "Importers are waiting to pick up their cargo longer than ever before. Containers are sitting on port for an average of six days, compared to two days wait in more normal times." As the pandemic prolongs, there are insufficient workers at ports and particularly there are not enough truck drivers to carry goods. Amid a shortage of tanker drivers, the UK is experiencing a fuel crisis. Britain ordered soldiers to supply fuel to petrol stations across the country in an effort to cease more than a week of shortages at service stations that left drivers without fuel. The UK is not alone in experiencing a fuel crisis. Demand for energy in major countries around the world is exploding as the global economy recovers and the winter season is just around the corner. In the U.S., West Texas Intermediate Crude,... which was priced at 50 U.S. dollars a barrel at the beginning of this year closed on Wednesday local time at almost 80 dollars a barrel. Also, natural gas prices are going through the roof at around 6 dollars per million BTU in the U.S.,... recording the highest price in 7 years. Meanwhile, some say, the so-called 'greenflation' is holding back economic recovery as power bills are surging due to less coal production amid the transition to clean energy. "Prices of natural gas or coal are soaring due to the imbalance of supply and demand. If this lasts, it could negatively impact the global economic recovery." Concerns are rising that a supply chain bottleneck and energy crisis could further add to inflation pressure around the world. Eum Ji-young Arirang News. #supply_chain #Economy #energy_crisis 📣 Arirang News(Facebook) : / arirangtvnewsa 📣 Arirang News(Twitter) : / arirangtvnews 📣 News Center(YouTube) : / newscenter_arirangtv 2021-10-07, 12:00 (KST)
