Materials or substances such as minerals, forests, water, and fertile land that occur in nature
Natural Resources: 5 Resources That Grow the US Economy
The US has an abundance of resources that boost our economy. These resources include a wealth of coal and oil, massive reserves of fresh water, an enormous landmass, a diversity of people and skills, expansive coastlines, and plenty of fertile lands. Continue reading to learn more as we discuss these precious resources in more detail.
1. Expansive Coastlines
The United States has 95,471 miles of shoreline, which include outlying US territories, possessions, and incredible lakes. The US coastline contributes over $350 billion to gross domestic product and creates over three million jobs. These jobs include the building of boats, tourism, recreational ocean activities, marine transportation, construction, and much more. Over $130 billion in wages are created by our coastlines.
We are fortunate as we’re not landlocked. Landlocked countries have more significant dependencies on other countries for imports and exports, which are considerably more expensive. It could be argued that these countries are also considerably dependent on the whims of other countries and their foreign policies. We’re fortunate not to be limited by hostile governments bordering our democracy, allowing us to prosper economically.
2. Fertile Lands
The US is blessed with fertile lands and temperate climates. Rich soil was discovered by the early settlers on the Great Plains, which includes over 290,000 square miles of the area between the Rocky Mountains and the Mississippi River. The Great Plains were formed during the Great Ice Age, and mountain streams from the Rocky Mountains deposited layers of fertile sediment. Great highlands were created that were untouched by the effects of erosion.
3. Fresh Water Reserves
Our Great Lakes, streams, and rivers provide 87% of all the water we consume in America. The electric power industry uses astonishingly 133 billion gallons of water per day and 118 billion gallons per day for agriculture. Water is used to cool down electricity-generating equipment, and the remaining supply is consumed by homes, industries, and businesses: Texas, California, Idaho, and Florida use over 25% of water withdrawals.
4. Natural Reserves
The US has the largest coal reserves globally, which fueled the Industrial Revolution. Coal fueled our steamships, trains, electricity-generating plants, and more. In 1920, the US supplied the world with two-thirds of its production. The US has massive oil reserves, which fueled our Navy ships, making them faster and giving them extended range during WWI. Our country’s oil also powered the internal combustion engine and machinery to boost agriculture’s growth.
5. People Skills and Diversity
The US has millions of immigrants from a multitude of countries. People who’ve come to the US as immigrants have made a significant positive impact on our economy. An innovative culture brought to the US has spurred the creation of many companies that have created thousands of jobs. For example, President John F. Kennedy was the grandson of Irish immigrants, Sergey Brin, one of the founders of Google, is a son of immigrants and Jeff Bezos one of the founders of Amazon, is also a son of immigrants. The most famous of all is Steve Jobs, whose father was a refugee from Syria.