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Economics

The mission of this working group is to build sustainable economy and financial balance within resilient social ecologies.

Members

Corey Watts david hastings Elhadj Drame Gina Angiola Kathy Gilbeaux LintonWells
Maeryn Obley mdmcdonald Samuel Bendett

Email address for group

economics@m.resiliencesystem.org

Global Carmakers to Invest at Least $90 Billion in Electric Vehicles

           

Visitors look at cars in the Ford booth at the North American International Auto Show in Detroit, Michigan, U.S. January 15, 2018. REUTERS/Jonathan Ernst

reuters.com - by Paul Lienert - January 15, 2018

Ford Motor Co’s plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing, a Reuters analysis shows.

That money is pouring in to a tiny sector that amounts to less than 1 percent of the 90 million vehicles sold each year and where Elon Musk’s Tesla Inc, with sales of only three models totaling just over 100,000 vehicles in 2017, was a dominant player.

With the world’s top automakers poised to introduce dozens of new battery electric and hybrid gasoline-electric models over the next five years - many of them in China - executives continue to ask: Who will buy all those vehicles?

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2017 U.S. billion-dollar weather and climate disasters: a historic year in context

           

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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Credit Rating Firm Warns New Orleans, Coastal Cities to Prepare for Climate Change

           

An aerial view of the Industrial Canal after its levee failed during Hurricane Katrina. (NOLA.com | The Times-Picayune file photo)

nola.com - by Tristan Baurick - December 11, 2017

One of the country's largest credit rating agencies has put New Orleans and other coastal cities on notice: prepare for the effects of climate change or risk a hit on your credit score.

In a new report, Moody's Investors Service warned that it will evaluate efforts to adapt to sea level rise, flooding, severe storms and other impacts from rising global temperatures when setting its ratings for loans and bonds. The report mentions New Orleans and Louisiana several times as high risk areas.

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Hurricane Maria Has Made Puerto Rico the Land of Opportunity for Solar Power

           

Leaning on the lines.(Raquel Pérez Puig for Quartz)

qz.com - by Ana Campoy - November 11, 2017

San Juan, Puerto Rico

Seven weeks after hurricane Maria, the traffic lights are still down in San Juan. The narrow, cobbled streets of the city’s historic center, one of the island’s top tourist attractions, turn pitch black as soon as the sun sets. With appliances useless during the blackout, many of the city’s residents can’t cook, store food, or take a real shower.

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Puerto Rico's Storm of Misery

cbsnews.com - by Steve Kroft - November 5, 2017

Many Puerto Ricans have endured the longest blackout in American history following a direct hit from Hurricane Maria. Due to a multitude of factors, some say the lights won't be coming back on anytime soon.

It's safe to say that of all the places in the country, the one that is suffering the most right now is the hurricane-ravaged island of Puerto Rico . . . For the past 46 days, most of them have been without power, the longest blackout in American history. FEMA says it has distributed more food and water there than any disaster its ever been involved in.

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Climate Change Isn’t Just Hurting the Planet – It’s a Public Health Emergency

           

‘Local air pollution around the world kills about 6.5 million people annually.’ Photograph: Alamy Stock Photo

Doctors have revealed that millions are already suffering the effects, in the spread of infectious diseases, uneven crop yields and longer allergy seasons

CLICK HERE - STUDY - The Lancet - Health and climate change - The Lancet Countdown on health and climate change: from 25 years of inaction to a global transformation for public health

theguardian.com - by Christiana Figueres - October 31, 2017

A report just published in the Lancet from the specially created Lancet Countdown initiative, reveals just how bad climate change is for public health. The diagnosis reveals that hundreds of millions of people are already suffering the health impacts of climate change. Its insidious creep is being felt in multiple ways: rising temperatures are hastening the spread of infectious diseases; crop yields are becoming uneven and unpredictable, worsening the hunger and malnourishment for some of the most vulnerable people on the planet; allergy seasons are getting longer; and at times it is simply too hot for farmers to work in the fields.

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Congressional Auditor Urges Action to Address Climate Change

           

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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Federal Harvey Relief Funds Might Take Years, Officials Tell Legislators

           

Flood damaged debris piled outside of homes in Port Arthur Texas. The city saw 47 inches of rain during the storm. - Michael Stravato for The Texas Tribune

texastribune.org - by Brandon Formby - October 2, 2017

 . . . state lawmakers were told that Housing and Urban Development disaster relief funds, which includes money for extensive home repairs or rebuilds, could take seven to 32 months to work their way through bureaucratic processes and several layers of government agencies . . . Congress approved $7.4 billion in HUD disaster relief funds last month. But that may have to be shared with Florida and Puerto Rico, which have each been hit by hurricanes in the weeks after Harvey battered Texas, unless legislators approve another aid package . . .

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Harvey’s Toll on Energy Industry Shows a Texas Vulnerability

A vessel, the Signet Enterprise, sinking on Saturday near Port Aransas, Tex.; its crew was rescued. The narrow shipping channel near Port Aransas may be the most threatened choke point on the Gulf Coast. Credit U.S. Coast Guard, via Getty Images

Image: A vessel, the Signet Enterprise, sinking on Saturday near Port Aransas, Tex.; its crew was rescued. The narrow shipping channel near Port Aransas may be the most threatened choke point on the Gulf Coast. Credit U.S. Coast Guard, via Getty Images

nytimes.com - Clifford Krauss and Hiroko Tabuchi - August 29th 2017

For years, much of the nation’s refinery capacity and chemical production have been concentrated along the swamps and narrow inlets of the Gulf of Mexico, risking devastation in a monster storm.

The pounding being endured by coastal Texas will probably be the biggest test of that risk so far, and energy experts say it raises questions about the area’s role as a hub for such crucial and environmentally sensitive industries.

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Alaskan Towns at Risk from Rising Seas Sound Alarm as Trump Pulls Federal Help

           

Residents of Shishmaref voted to relocate to the mainland, but in common with other Alaskan towns, there is no clear source of funding to do this. Photograph: Andrew Burton/Getty Images

Communities in danger of falling into the sea say assistance from Washington has dried up: ‘It feels like a complete abdication of responsibility on climate change’

theguardian.com - by Oliver Milman - August 10, 2017

The US government’s withdrawal from dealing with, or even acknowledging, climate change may have provoked widespread opprobrium, but for Alaskan communities at risk of toppling into the sea, the risks are rather more personal.

The Trump administration has moved to dismantle climate adaptation programs including the Denali Commission, an Anchorage-based agency that is crafting a plan to safeguard or relocate dozens of towns at risk from rising sea levels, storms and the winnowing away of sea ice.

Federal assistance for these towns has been ponderous but could now grind to a halt, with even those working on the issue seemingly targeted by the administration.

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