Sandy, the hurricane turned mega-storm that battered the United States’ East Coast earlier this week, could cost insurers $US 5 billion to $US 10 billion, while economic losses are estimated anywhere between $US 10 billion and $US 20 billion, Reuters reported. The increasing cost of natural disasters could pressure Congress to take action on climate change.
Here, a Reuters slideshow displays eerie photographs of the storm’s destruction, from flooded amusement parks to homes gutted by fire.
The share of cargo transported on the Nile River could increase as much as 15 percent in the next five years, as Egypt cuts fuel subsidies that give land transport an edge, Bloomberg News reported.
Meanwhile, shipping rates for oil products on the Rhine River are at their highest in three months after water levels on part of the river dropped 40 percent in the last two weeks, according to Bloomberg News.
Food in a Changing Climate
Declines in maize, rice and wheat yields due to climate change will necessitate a change in crop planning for many developing countries, according to a new report from the Consultative Group on International Agricultural Research (CGIAR), the Guardian reported. Irrigated wheat crop yields could see a 13 percent drop in developing countries, while irrigated rice production could drop 15 percent.
In Kenya, however, farmers are reluctant to turn away from maize in order to grow crops more suited to the drier climate because they fear it will affect their food security, Xinhua reported.