I’m going to do all this reading and research anyway… might as well share what I learn!
NEWS
+
VIEWS
October 31 2020

economic challenge for fossil-fuel-based state economies, drop in value of coastal real estate in Florida, climate-change denial loses influence, solar is now the cheapest electricity in history, it’s getting really hot in Phoenix

An article in The Conversation examines the predicament facing states that are highly dependent upon fossil-fuel extraction to power their economies, such as Wyoming, Alaska and North Dakota. Energy production was responsible for 70% of Alaska’s revenue in 2019, and 52% of that for Wyoming. Wyoming is forecasting a 54% decline in fossil-fuel-derived taxes in 2021-22 as compared to the previous year. The authors explore the issues of developing and financing a “just transition” to a more diverse and future-focused economy for these states. A report from the Commodity Futures Trading Commission has concluded that climate change poses a significant financial risk to U.S. markets, according to the New York Times. The risks identified include falling home values due to climate change (including fires and floods) and wild variations in commodity prices driven by extreme weather. It recommends the declaration and consideration of climate risks in investment decisions.

And right on cue, the New York Times reports on research documenting a drop in real-estate values in coastal parts of Florida. In Bal Harbour near Miami Beach, prices fell 7.6 percent from 2016 to 2020, part of a larger decline in low-lying areas of Florida that appears to have begun in 2013. Sales and prices in less-vulnerable areas do not show this change. Elected officials and real-estate agents in South Florida contend that buyers aren’t worried and that infrastructure improvements are keeping pace with the problem. The market, economists note, appears to disagree with this rosy assessment. The Washington Post reports on high-tide flooding on the East Coast this month due to the king tides (the highest tides of the year — California’s king tides for 2020 are coming up November 15-16 and December 13-15). Because sea level rise is accelerating, the impacts from king tides are going to become more severe relatively quickly in the coming years…

read more
October 15 2020

we can’t afford to not have a Green New Deal, “green” hydrogen, the importance of natural forest restoration, a “gigafire” arrives 30 years early

Critics of the Green New Deal suggest we can’t afford such an investment. The reality is that we can’t afford not to do it. An article in New York Magazine examines the public investment made by the U.S. government to fight World War II as an analogy. “Between 1940 and 1945, the U.S. government managed to increase military spending by an amount equal to 70 percent of 1940 GDP — while increasing productivity and technological innovation, raising civilian living standards, laying the groundwork for a decades-long postwar boom, and avoiding runaway inflation… If we could figure out how to execute public spending and planning on that scale 80 years ago, we can presumably execute it at a fraction of that scale (say, $5 trillion over five years?) today.” The article notes that the WWII mobilization resulted in the income of the top one percent of earners declining by a third. Are the richest Americans willing to make the same investment today?

An article in the New York Times addresses an important scientific truth about climate change through interviews with experts studying the issue. The truth is that the future is going to get worse than the present, even with aggressive reductions in greenhouse gases, because carbon dioxide stays in the atmosphere for a long time. But through our actions we can control how bad things get. As I wrote last year, “the world we get will be the world we choose. We just can’t choose the world we had.” Or, as Texas A&M climate scientist Andrew Dessler says, “If you don’t like all of the climate disasters happening in 2020, I have some bad news for you about the rest of your life.”

The Washington Post reports on recent evidence indicating that the physical restraint on the movement of the Thwaites and Pine Island glaciers in Antarctica is diminishing as their ice shelves break apart. The glaciers already contribute around five percent of global sea level rise. The survival of the Thwaites glacier is seen as critical to slowing the collapse of the West Antarctic Ice Sheet. From the other end of the planet, the New York Times describes the new climate of the Arctic – one that is characterized by warmer temperatures, open water and rain…

read more

IN BRIEF: PAST
CLIMATE NEWS

MORE MY TAKES
 

NEWS
+
VIEWS
I’m going to do all this reading and research anyway… might as well share what I learn!
October 31 2020

economic challenge for fossil-fuel-based state economies, drop in value of coastal real estate in Florida, climate-change denial loses influence, solar is now the cheapest electricity in history, it’s getting really hot in Phoenix

An article in The Conversation examines the predicament facing states that are highly dependent upon fossil-fuel extraction to power their economies, such as Wyoming, Alaska and North Dakota. Energy production was responsible for 70% of Alaska’s revenue in 2019, and 52% of that for Wyoming. Wyoming is forecasting a 54% decline in fossil-fuel-derived taxes in 2021-22 as compared to the previous year. The authors explore the issues of developing and financing a “just transition” to a more diverse and future-focused economy for these states. A report from the Commodity Futures Trading Commission has concluded that climate change poses a significant financial risk to U.S. markets, according to the New York Times. The risks identified include falling home values due to climate change (including fires and floods) and wild variations in commodity prices driven by extreme weather. It recommends the declaration and consideration of climate risks in investment decisions.

And right on cue, the New York Times reports on research documenting a drop in real-estate values in coastal parts of Florida. In Bal Harbour near Miami Beach, prices fell 7.6 percent from 2016 to 2020, part of a larger decline in low-lying areas of Florida that appears to have begun in 2013. Sales and prices in less-vulnerable areas do not show this change. Elected officials and real-estate agents in South Florida contend that buyers aren’t worried and that infrastructure improvements are keeping pace with the problem. The market, economists note, appears to disagree with this rosy assessment. The Washington Post reports on high-tide flooding on the East Coast this month due to the king tides (the highest tides of the year — California’s king tides for 2020 are coming up November 15-16 and December 13-15). Because sea level rise is accelerating, the impacts from king tides are going to become more severe relatively quickly in the coming years…

read more
October 15 2020

we can’t afford to not have a Green New Deal, “green” hydrogen, the importance of natural forest restoration, a “gigafire” arrives 30 years early

Critics of the Green New Deal suggest we can’t afford such an investment. The reality is that we can’t afford not to do it. An article in New York Magazine examines the public investment made by the U.S. government to fight World War II as an analogy. “Between 1940 and 1945, the U.S. government managed to increase military spending by an amount equal to 70 percent of 1940 GDP — while increasing productivity and technological innovation, raising civilian living standards, laying the groundwork for a decades-long postwar boom, and avoiding runaway inflation… If we could figure out how to execute public spending and planning on that scale 80 years ago, we can presumably execute it at a fraction of that scale (say, $5 trillion over five years?) today.” The article notes that the WWII mobilization resulted in the income of the top one percent of earners declining by a third. Are the richest Americans willing to make the same investment today?

An article in the New York Times addresses an important scientific truth about climate change through interviews with experts studying the issue. The truth is that the future is going to get worse than the present, even with aggressive reductions in greenhouse gases, because carbon dioxide stays in the atmosphere for a long time. But through our actions we can control how bad things get. As I wrote last year, “the world we get will be the world we choose. We just can’t choose the world we had.” Or, as Texas A&M climate scientist Andrew Dessler says, “If you don’t like all of the climate disasters happening in 2020, I have some bad news for you about the rest of your life.”

The Washington Post reports on recent evidence indicating that the physical restraint on the movement of the Thwaites and Pine Island glaciers in Antarctica is diminishing as their ice shelves break apart. The glaciers already contribute around five percent of global sea level rise. The survival of the Thwaites glacier is seen as critical to slowing the collapse of the West Antarctic Ice Sheet. From the other end of the planet, the New York Times describes the new climate of the Arctic – one that is characterized by warmer temperatures, open water and rain…

read more

IN BRIEF: PAST
CLIMATE NEWS

MORE MY TAKES