Economics

In Humacao, a city on the eastern coast just north of where Hurricane Maria’s eye passed, power poles and lines still litter the ground in some areas. PHOTO: ARIAN CAMPO-FLORES/THE WALL STREET JOURNAL

Six months after Hurricane Maria, as many as 7,000 of the island’s small businesses remain closed

wsj.com - by Arian Campo-Flores - March 19, 2018

 . . . Though economic activity in Puerto Rico has picked up in recent months, businesses large and small are struggling. Electricity woes continue to plague the island, where 91% of power generation has been restored but the grid is prone to sudden outages. Insurance money has arrived slowly, with $1.7 billion paid in residential and business claims as of Jan. 31—about 40% of the expected total, according to the island’s Office of the Commissioner of Insurance.

And the market is shrinking as a result of an accelerating exodus of Puerto Ricans fleeing conditions on the island.

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This map depicts the general location of the sixteen weather and climate disasters assessed to cause at least one billion dollars in direct damages during 2017.

climate.gov - by Adam B. Smith - January 8, 2018

NOAA’s National Centers for Environmental Information (NCEI) tracks U.S. weather and climate events that have great economic and societal impacts (www.ncdc.noaa.gov/billions). Since 1980, the U.S. has sustained 219 weather and climate disasters where the overall damage costs reached or exceeded $1 billion (including adjustments based on the Consumer Price Index, as of December 2017). The cumulative costs for these 219 events exceed $1.5 trillion.

During 2017, the U.S. experienced a historic year of weather and climate disasters.  In total, the U.S. was impacted by 16 separate billion-dollar disaster events including: three tropical cyclones, eight severe storms, two inland floods, a crop freeze, drought and wildfire.

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Members of the Wyoming Hot Shots firefighting crew battling the Lizard Fire near Willcox, Ariz., in June. Credit Kyle Miller/Wyoming Hot Shots, via Associated Press

CLICK HERE - U.S. GAO - CLIMATE CHANGE: Information on Potential Economic Effects Could Help Guide Federal Efforts to Reduce Fiscal Exposure

nytimes.com - by Lisa Friedman - October 23, 2017

WASHINGTON — Fires, floods and hurricanes are already costing the federal government tens of billions of dollars a year and climate change will drive those costs ever higher in coming years, a new federal study warns.

The report by the Government Accountability Office, Congress’s auditing arm, urges the Trump administration to take climate change risks seriously and begin formulating a response.

The study, scheduled to be released Tuesday, says that different sectors of the economy and different parts of the country will be harmed in ways that are difficult to predict.

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