No one in r/Costco — the Reddit group dedicated to the beloved bulk store — could get over it. The hefty, store-brand olive oil bottles they had been purchasing for years, the ones they all agreed were the best and cheapest around, suddenly cost twice what they used to.
As human-created greenhouse gas emissions wreak planetary chaos, researchers forecast even more economic effects, driving temporary price increases — and raising risks for longer-term inflation, especially as spikes become more frequent.Soaring temperatures will create unbearable conditions for crops and workers. Severe storms and prolonged droughts will batter supply chains and disrupt the flow of trade.
He pointed to cocoa — which also hit record-high prices this year — as a crop that could be highly vulnerable to future temperature rise. Most cocoa plants are genetically very similar, which means they are less likely to exhibit mutations that might help them cope with changing environmental conditions.found that the risk of simultaneous crop failures in major corn-growing regions could increase from a 6 percent chance per year in recent decades to 40 percent if the world warms to 1.
Ultimately, the biggest drivers of insurance price spikes are the events that companies do not predict, Martin said. When unexpectedly large numbers of people file claims in the wake of a disaster — which is happening more often as climate change scrambles weather patterns and fuels new extremes — insurers“Since there’s no real end in sight to what extreme weather is going to look like, there’s no prediction of when will slow down,” Martin said.
Those figures have big implications for the volume of goods moving through the canal. Last summer, roughly 1.4 million metric tons passed through each day. That number steadily fell by early 2024 to below 1 million, although it has mostly recovered since.
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Source: physorg_com - 🏆 388. / 55 Read more »
Source: physorg_com - 🏆 388. / 55 Read more »