Drought killed agriculture here also ... i have some land , zero income from there this year ... it's like it's all f..ked !
I was watching a youtube clip about a professional compost producing farm:
https://www.youtube.com/watch?v=s6M8d4aBwP0At timestamp 16:57 they discuss the negative impact transportation delays and price hikes (rising oil prices) have had on their business. It sounds like a nightmare.
I would guess a transition towards sources of raw materials that are locally sourced will begin naturally. Prices are reaching tipping points where the door will be open towards producing more needed materials locally. The only question is how long it will take for these shifts to manifest.
There could be opportunity. In terms of starting businesses that produce locally sourced commodities that are in high demand. The days of shipping strawberries from chile and assorted items halfway around the world could be over. With high fossil fuel costs, there could be no other option aside from locally sourced alternatives.