Via the American Prospect, yet another looming supply chain crisis brought on by climate change and corporate greed:

Last month, rail barons turned to Washington to avert a rail strike that could have brought the economy to a halt. Out on the Mississippi River though, depleted rail service has fueled a separate economic catastrophe.

A historic drought on the river has shuttered the critical node of barge transportation, leaving farmers and other shippers searching for alternative options to get their goods to port before winter. From the waterhead in Minnesota down to the port in New Orleans, barges deliver over 60 percent of corn and soybean exports and around $100 billion worth of cargo every year, including fuel, grain, industrial chemicals, and building materials.

The railroads don’t have adequate capacity to serve these shippers, in large part because of recent downsizing measures, including worker layoffs, to boost short-term profits for shareholders. As a result, shipping prices have jumped and capacity has cratered. The collapse of markets served by the Mississippi is creating exactly the situation that politicians warned against for the country at large when a strike loomed on the horizon: a potential crisis for the smooth flow of commerce. This one can’t be blamed on rail workers, however: It falls squarely on the companies themselves.

Get ready for more shortages and higher prices:

After years of lagging service, it’s not a surprise that some farmers along the river are opting to just hold their goods for storage rather than dealing with high fares and unpredictable rail service, which has gotten worse since the pandemic. Congress and the Surface Transportation Board, the rail industry’s main regulator, have held several hearings in recent years because of increased complaints about inadequate rail service and higher costs. In these hearings, testimonies from shippers have described a breakdown in rail function that’s even led to bankruptcy for some shippers.

“They may claim that PSR improves service, but our experience and that of many other shippers has been the opposite,” said Emily Regis, fuels resource administrator for the Arizona Electric Power Cooperative, speaking on behalf of the Freight Rail Customer Alliance in her congressional testimony.

Ah, yes. PSR, the philosophy that says stripping railroad staffing down to the bare bones is smart business. All is does is increase shareholder profits -- but there will come the inevitable major rail tragedy that will prove this wasn't smart business at all.