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New Federal Report Warns of Financial Havoc From Climate Change

WASHINGTON — A report commissioned by federal regulators overseeing the nation’s commodities markets has concluded that climate change threatens U.S. financial markets, as the costs of wildfires, storms, droughts and floods spread through insurance and mortgage markets, pension funds and other financial institutions.

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Damage from whopper hurricanes rising for many reasons

 ...America and the world are getting more frequent and bigger multibillion dollar tropical catastrophes like Hurricane Laura, which is menacing the U.S. Gulf Coast, because of a combination of increased coastal development, natural climate cycles, reductions in air pollution and man-made climate change, experts say.

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500,000 in California Are Without Electricity in Planned Shutdown

           

A map on the website of Pacific Gas & Electric showing locations impacted by the blackout on Wednesday morning. The purple icons represent areas where the power was shut off preemptively.  Credit pgecurrents.com

CLICK HERE - PG&E - Outage Map

Pacific Gas & Electric is cutting electricity as a precaution against sparking wildfires in high-wind conditions.

nytimes.com - by Thomas Fuller - October 9, 2019

A deliberate power outage that spanned large parts of Northern California on Wednesday sent hundreds of thousands of people scrambling for gasoline and other essentials as strong, gusty winds and months of dry weather put the state on alert for wildfires.

The state’s largest power utility, Pacific Gas & Electric, said it had cut power to 500,000 customers soon after midnight. A second round of cuts affecting 250,000 more customers in the hills surrounding the San Francisco Bay Area had been scheduled for noon but was delayed. . . .

 . . . Once the two phases are complete, around 2.5 million people will be without electricity, according to one estimate.

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California Utility Firm Suspected of Starting Deadly Wildfires Goes Bankrupt

           

A firefighter battling the Camp fire, which became California’s deadliest in history. Photograph: Noah Berger/AP

Pacific Gas and Electric, which supplies 16 million residents, is under investigation for its role in the Camp fire and others

theguardian.com - by Vivian Ho - January 14, 2019

The utility company that services more than a third of California announced on Monday it plans to file for bankruptcy by the end of the month. Several deadly wildfires believed to have been caused by the company left it with potential liabilities of at least $30bn.

The board of directors of Pacific Gas and Electric (PG&E) has determined that the move “is ultimately the only viable option to restore PG&E’s financial stability to fund ongoing operations and provide safe service to customers”, the San Francisco-based company stated in a filing at the Security and Exchange Commission.

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More Than 100 Large Wildfires in US as Six New Blazes Erupt

           

A helicopter drops water to a brush fire at the Holy Fire in Lake Elsinore, California, on Saturday. Photograph: Ringo Chiu/AFP/Getty Images

The fires have scorched states from Washington to New Mexico, with California among the hardest hit

theguardian.com - August 12, 2018

Six large new wildfires erupted in the United States, pushing the number of major active blazes nationwide to over 100, with more expected to break out sparked by lightning strikes on bone-dry terrain, authorities said on Saturday.

More than 30,000 personnel, including firefighters from across the United States and nearly 140 from Australia and New Zealand, were battling the blazes that have consumed more than 1.6m acres (648,000 hectares), according to the National Interagency Coordination Center . . .

 . . . The fires have scorched states from Washington to New Mexico, with California among the hardest hit.

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When Rising Seas Transform Risk Into Certainty

           

Flooding in North Miami, Florida. A 2013 World Bank study found that Miami is one of the 10 cities most at risk of damage from sea-level rise. Photograph: Joe Raedle/Getty Images

CLICK HERE - STUDY - Amplification of flood frequencies with local sea level rise and emerging flood regimes

thebulletin.org - by Dan Drollette Jr. - June 9, 2017

According to a new study published on Wednesday by researchers from Princeton and Rutgers universities, rare floods will soon become the norm for cities like New York, San Francisco, San Diego, and Seattle, as well as entire states such as Florida and Hawaii. On average, this means a 40-fold increase in the occurence of flood, unless humanity soon cuts back on the amount of carbon we pump into the atmosphere.

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ALSO SEE RELATED ARTICLE HERE - Rare US floods to become the norm if emissions aren't cut, study warns

 

 

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What Happens to Earth if the US Exits the Climate Deal?

           

Credit:  AP Photo/Jim Cole, File

washingtonpost.com - Associated Press - May 27, 2017

 . . . In an attempt to understand what could happen to the planet if the U.S. pulls out of Paris, The Associated Press consulted with more than two dozen climate scientists and analyzed a special computer model scenario designed to calculate potential effects.

Scientists said it would worsen an already bad problem, and make it far more difficult to prevent crossing a dangerous global temperature threshold.

 . . . “The U.S. matters a great deal . . . That amount could make the difference between meeting the Paris limit of two degrees and missing it” . . . 

While scientists may disagree on the computer simulations they overwhelmingly agreed that the warming the planet is undergoing now would be faster and more intense.

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