22nd October 2021 Today’s Round-Up of Economic News

The global energy crisis could escalate into a world food crisis leading to famine in vulnerable countries unless urgent action is taken, one of the world’s biggest producers of fertiliser has warned.

“Svein Tore Holsether, the chief executive of Yara, which produces 8.6m tonnes of the key fertiliser ingredient ammonia annually, said high gas costs meant it was curbing production in Europe by 40%.”


Supply-Chain Crisis Fuels Latest Retreat From Globalization… The supply-chain crisis of 2021 is fueling the retreat from globalization, much as the global financial crisis of 2008 did.

“Covid-19, climate and geopolitics shatter integrated global production, threatening to end an era of low costs and endless variety.


Biden says he’s considering deploying the National Guard to ease supply chain crisis.

“President Joe Biden said Thursday evening he’s considering deploying the National Guard to help ease stress on the US supply chain as it prompts growing concern about the economy, prompting a White House official to swiftly throw cold water on the plan.”


‘Striketober’ suggests US workers have less heft than they were told. Labour shortages were meant to have given low-wage Americans new bargaining power…

“Workers say that, despite their need for labour, many employers refuse to compromise.”


Oil Prices Could Explode As U.S.’ Largest Storage Hub Nears Empty.

“…in the clearest example yet of market tightness, Cushing crude storage fell to 31.2 mb last week as noted in the chart above. And because operational tank bottoms are likely 20-25% of capacity- or about 20 mb – JPM predicts that “we could be just weeks away from Cushing being effectively out of crude…””


Fears grow as UK factories hit by worst supply chain shortages since mid-70s…

“The latest survey of 263 manufacturers, held against a backdrop of severe supply chain disruption caused by Covid and Brexit, also reported rising concern over staff shortages holding back industrial output over the coming months.”


Energy boss claims 20 more [UK] suppliers face bankruptcy over ‘£5bn’ price cap bill.

“Scottish Power’s chief executive argues that the current market is unsustainable and could force a return to the days of only a ‘big six’ group of suppliers without urgent action.”


Germany’s Inflation Dilemma Is a Threat to Europe… After years of malaise, inflation is suddenly back as a real issue to consider. That puts pressure on the European Central Bank, which has kept base rates negative since 2014.”


Poland vows not to give into EU ‘blackmail’ at summit…

“”We will not act under blackmail pressure attempts,” the Polish PM said as he arrived at the EU summit in Brussels, where several leaders said they were concerned over Poland’s recent court ruling that questioned the primacy of EU law.”


Energy Crisis Exposes EU Tensions With Few Solutions for Leaders.

“Soaring energy prices are exacerbating divisions in the European Union as national leaders brace for heated talks about how to protect the most vulnerable and avoid a backlash against the bloc’s ambitious climate change plan.”


Spain is set to stop receiving natural gas shipments through its main pipeline [the Maghreb-Europe pipeline] from November, accelerating the start of a potential energy supply crisis…

“The halt of the conduit would leave Spain’s energy industry highly vulnerable ahead of the winter months as Europe contends with a broader energy crisis…”


South Korean workers channel “Squid Game” to protest economic woes.

“Thousands of people staged demonstrations in Seoul and elsewhere on Thursday, many in costumes inspired by the gruesome show that was itself inspired by the dire economic conditions facing many South Koreans.”


China new home prices hit by first month-on-month fall since 2015.

“Prices of new homes across China’s biggest cities fell in September, the first month-on-month decline since April 2015 and a sign that sustained weakness across the country’s real estate industry was feeding through into the property market.”


Isolated and unpaid, Mongolian coal drivers queue at Chinese border…

“Last year, resource-rich Mongolia exported over 35 million tonnes of coking coal to China — this year so far is less than a third of that. Terrified any outbreak might make China slam the border shut, Mongolia has imposed strict coronavirus rules.”


India Looks To Create Strategic Coal And Gas Reserves.

“One of the world’s largest energy consumers and importers, India, is weighing the possibility of keeping strategic reserves of imported coal and natural gas in order to fend off future supply and price shocks, according to a senior government official.”


Soaring Lebanese fuel prices deepen misery.

“Taxi drivers blocked roads in Beirut on Thursday in protest at spiralling petrol prices… Gasoline today is about 10 times more expensive at the pump than it was just a few months ago.”


Venezuelans Break Off Flakes of Gold to Pay for Meals, Haircuts…

“To fathom the magnitude of Venezuela’s financial collapse, travel southeast from Caracas, past the oil fields and over the Orinoco River, and head deep into the savanna that blankets one of the remotest corners of the country…

“A one-night stay at a hotel? That’ll be half a gram. Lunch for two at a Chinese restaurant? A quarter of a gram. A haircut? An eighth of a gram, please.”


The revenge of the old economy… It is tempting to blame today’s shortages in the “old economy” — everything from energy to other basic materials, and even agriculture — on a series of temporary disruptions driven largely by the Covid-19 pandemic.

“But outside of a few labour issues, these bottlenecks have little to do with Covid. Instead, the roots of today’s commodity crunch can be traced back to the aftermath of the financial crisis and the following decade of falling returns and chronic under-investment in the old economy.”


Putin warns of possible oil shortage due to lack of investment…

“There could be a moment in the future when global demand for oil increases but there is no oil available, Putin said.”


Climate policies could spark an ‘even worse’ energy crisis, Saudi finance minister says…

““If we are not careful about what we are doing to achieve our targets, we may end up having [a] very serious energy crisis like what we are seeing now, and it could be even worse in the future,” said Mohammed al-Jadaan, though he noted that climate policies are “very important.””


‘Tired of broken promises’: climate activists launch hunger strike outside White House…

“The protest came a day after the US president threatened to water down his $3.5tn social and environmental legislation and with Washington’s commitments about to face scrutiny at the COP26 summit in Glasgow.”


The climate crisis is an ’emerging threat’ to financial stability, US regulators say.

“Climate change is an “emerging threat to the financial stability of the United States,” Stephen Ledbetter, the executive director and director of policy at the FSOC, said during a call with reporters Thursday.”


You can read the previous ‘Economic’ thread here. I’ll be back tomorrow with a ‘Climate’ thread.

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21st October 2021 Today’s Round-Up of Climate News

More than 150 people have died in devastating floods across India and Nepal, after some of the heaviest rainfall in over a century triggered flash flooding and landslides.

“In the north Indian state of Uttarakhand, at least 46 people died and 11 were missing after record-breaking rainfall caused by cloudbursts, an intense deluge of rain, on Monday and Tuesday.”


Record rainfall in Uttarakhand’s Kumaon, Mukteshwar breaks 107 year record.

The previous records of 24-hour rainfall in Uttarakhand was held by Pant Nagar that received 228 mm [9 inches] rainfall on July 10, 1990, but was now broken by the current 403.2 mm [15.9 inches] rainfall.


Onion Prices Surge In India As Heavy Rainfall Damages Crops…

After the cost of fuel and edible oils hit record highs, Indian consumers like Patil are likely to be further squeezed by a rally in onion prices after heavy rainfall in the country’s key growing regions damaged the summer-sown crop and delayed winter crop planting.”


Rains delay wheat planting, autumn grain harvest in China – ministry…

“Constant rains in recent weeks have delayed wheat planting in main production regions in China, a government official said on Wednesday…

“China has raised the minimum purchase price for wheat in 2022…”


China flooding exposed risks in Beijing’s plan to launch digital currency.

“Heavy summer rains knocked out cellphone service, leaving many people who don’t carry cash unable to pay with popular apps.”


Australia’s ‘biggest-ever’ hailstones damage cars and shatter windows in Queensland.

“Giant hailstones bigger than 16cm (6.3 inches) appear to have fallen in Queensland, according to Australia’s weather agency. If confirmed, it’s believed to be a new record for the country.”


Rain leaves a trail of destruction in Belo Horizonte [Brazil] and Civil Defense warns for the next few days.

“The rains between 6 pm and 9 pm yesterday (18) caused a series of damages in Belo Horizonte. The Fire Department was called by residents for cases of landslides, floods and inspections in various regions of the capital.”


Climate change was the main cause of the extremely heavy rainfall that led to severe flooding, deaths and massive damage in cities across Minas Gerais state, Southeast Brazil, in January 2020

“The authors of the study also quantified the damage caused by the extreme event, estimating that over 90,000 people were made temporarily homeless…”


Level 5 atmospheric river to unleash flooding across drought-stricken California.

“After nearly a year without rain, a series of potent Pacific storms are directed at Northern California this week, potentially bringing as much as a foot of rainfall and up to three feet of snow in the Sierra Nevada.”


The record-breaking heatwave that hit Whatcom County earlier this summer did a number on the raspberry harvest, and now we know by how much.

“….farmers brought in slightly less than 44.5 million pounds, according to the Washington Red Raspberry Commission. That’s down 30.2% compared to 2020 harvest and down 40% compared to the peak year.”


Drought closes lake, causes cloudy tap water in North Carolina city homes and businesses…

“Officials blamed low water levels at Lake Fisher, one of the city’s drinking water sources, for the Oct. 14 closing and the murky water in taps announced Wednesday. The 534-acre lake is off Interstate 85 near Kannapolis, just north of Concord.”


Tornado in Widnes leaves fallen trees and collapsed walls as North West [UK] is battered by torrential rain

“Residents have shared footage of fallen trees, broken fences and walls, and trampolines being returned to gardens. The tornado appears to have ripped through Camberwell Park Road and other streets in the area around Sunnybank Woodland Park.”


Heavy rain and strong winds overnight have led to flooding of homes and businesses, and the closure of roads and rail lines across the South East [UK].

“Knockholt in Kent had the highest rainfall figures in the country. The M23 was closed in both directions between Crawley and Pease Pottage…”


‘Climate change is hitting us’: French beekeepers expect worst honey harvest in half a century [ie on record]…

““This will be worst harvest in the history of our organisation, the worst in at least 50 years,” UNAF president Christian Pons said on Tuesday. Pons said beekeepers across Europe have been hit by bad weather and climate change will have a lasting impact on honey production.”


Climate Chaos Helped Spark the French Revolution—and Holds a Dire Warning for Today…

“In 1775, severe grain shortages in France caused by successive years of poor harvests resulted in bread riots throughout the kingdom… Compounding the worsening climate, the Laki volcanic fissure in Iceland erupted in June 1783.”


Alien world under Austria’s doomed glaciers tells tale of their collapse.

“It is already too late to save the glaciers of the eastern Alps, which scientists now say are past the point of no return…

“The eerie blue caverns beneath them hold clues as to how the ice… collapsed far faster than expected.”


Seville [Spain] becomes the first major city in the world to categorize and name heat waves…

“The city’s mayor, Juan Espadas, said in a statement on Monday that he’s proud that Seville, located in one of the hottest regions of Spain, is the first city to start naming and categorizing heat waves.”


Venice flooding worsens off-season amid worsening impact of climate change…

“”I can only say that in August, a month when this never used to happen, we had tides over a meter five times. I am talking about the month of August, when we are quiet,” St. Mark’s chief caretaker, Carlo Alberto Tesserin, told The Associated Press.”


‘We are losing a national treasure’: desperate Lebanese cut ancient trees for heating.

“Last month, policeman Abdelhakim Assayed was shocked to discover that a large, centuries-old fir tree on a high plateau near his home in north Lebanon had been cut down and carried away overnight.

““If you had seen it, you would have cried,” he said, as he walked around the small branches scattered around what was left of the tree’s trunk. “It’s like killing your child.””


Conflict pollution wrecking Syria coast.

“Leaks from moored tankers, underwater pipelines and wastewater systems are turning the Syrian coast into a major environmental hotspot, said a report released on Tuesday.”


UN blames worst South Sudan floods since 1962 on climate change…

“Weeks of heavy rain have caused unrelenting floods, affecting more than 700,000 people across the country, UNHCR Representative in the country Arafat Jamal said on Tuesday. The rains have swept away homes and inundated farmlands, forcing families to seek safety…”


Uganda: Floods Displace One Million Ugandans.

“Government has said more than one million people staying in mountainous areas and those bordering water bodies and landing sites have been affected… A number of schools, roads, bridges and health facilities worth more than Shs200 billion have also been washed away or submerged.”


Microplastics making their way up to belugas in Arctic through prey, says new study.

“Hundreds of thousands of tiny bits of plastic waste have been found in the prey of belugas, proving that the pollution in the whales is making its way even to the most remote Arctic waters, a new study says.”


Rising Arctic Temperatures Mean Migrating North No Longer Worth It for Many Species, Study Finds…

““These findings are alarming. We have lived with the notion that northern breeding grounds represent safe harbors for migratory animals,” Vojtěch Kubelka, a biologist at the Global Change Research Institute in the Czech Republic and lead author of the study, said.”


Why Global Food Prices Continue to Climb…

Without radical changes, climate breakdown will continue to reduce international access to imported food, well beyond any historical precedent. Higher prices will reduce food security, and if there is one solid law of social science, it’s that hungry people take radical steps to secure their livelihoods—especially where leaders are perceived to have failed.


You can read the previous ‘Climate’ thread here. I’ll be back tomorrow with an ‘Economic’ thread.

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19th October Today’s Round-Up of Climate News

Drought in key wheat producing countries is having an impact on world supply. We have talked a lot about how the western drought is impacting American farmers and ranchers, but we are now seeing its impact on global production.

“According to Mark Jekanowski, a USDA economist, “United States, especially, drought affects the spring wheat crop, but certainly for Canada, that’s partially all spring wheat and Kazakhstan as well, they’ve been suffering drought throughout the entire growing season.””


Extreme water shortages in Iraq will halve the area of crops being grown next harvest, the authorities said Monday, following UN warnings calling for “urgent” action….

“Iraq is struggling amid the consequences of dire droughts exacerbated by global warming, compounded by the extraction of water from the Tigris and Euphrates, rivers shared with neighbouring Turkey and Syria.”


“It’s still exceptionally hot in the Arabian Peninsula. [On] 18th October Makkah, Saudi Arabia rose to 44.6C [112.3F], near record levels for the whole Asia for this time of the year.

“Exactly 11 years ago on 18 October 2010 Makkah recorded its latest 45C ever.”


Africa’s fabled eastern glaciers will vanish in two decades, 118 million poor people face imminent drought, floods or extreme heat, and climate change could also shave 3% off continental GDP by mid-century, the U.N. climate agency warned on Tuesday.”

[3% off GDP. Think that may be underestimating the situation a tad.]


“The tiny and uninhabited Europa Island, part of the territory of the French Southern and Antarctic Lands, located between Madagascar and Mozambique, recorded 33.7C [92.7F] on 15th October.

“This is a new monthly heat record for the Territory.


For South Sudan learners, floods threaten to wash away access to education…

“Peter Jol Maker, a headteacher at Panapet primary school, said the school was completely submerged in water, noting that learners are braving flooding for education in just a temporary learning space erected in some higher ground.”


Hunger looms, as drought hits Kano rice farmers [Nigeria]…

“As climate change continues to worsen in the northern parts of Nigeria, weeks without rainfall in Kano has resulted in many farmers to losing their crops, especially rice… the plants are drying out.”


Marmara Sea getting warmer due to global warming, pollution…

“Speaking at an organization in the northwestern province of Edirne, hydro-biologist Mehmet Levent Artüz stressed the dangers the Marmara Sea will face in the near future in a presentation named “The Climate Crisis and the Seas.””


The tiny country of Antigua and Barbuda in the Caribbean had its hottest October day in history on 15th October with 34.1C [93.4F] at the Vc Bird Int. Airport.

“This beats the 34.0C set in October 2015. All time record for any month is 34.9C in August 1995.”


A rare waterspout was spotted off the coast of Cienfuegos, Cuba on Saturday.

“According to the Cienfuegos Provincial Meteorological Centre, the waterspout swirled between 4.50pm to 5pm local time. No damage was reported from the waterspout.”


In drought-prone South Texas, aging water system meets rapidly growing population…

““As this region continues to become drier due to climate change, water supplies will be greatly reduced,” said Guy Fipps, a professor of irrigation engineering at Texas A&M University who has studied the water system since 1998.”


Lake Tahoe runs dry: Severe drought leaves boats and docks hundreds of feet from shore and salmon unable to spawn…

“Lake Tahoe’s water levels have dropped about half-an-inch below its natural rim as experts warn that another dry winter could put the body of water at risk of becoming ‘terminal’ – meaning the lake will no longer be able to supply its only outflow, experts say.”


Alberta glacier suffered record melt in 2021, researchers suggest it will worsen.

“The Saskatchewan Glacier in Banff National Park melted by more than 10 metres in the past year, researchers say. “It clearly is the most extreme melt that we’ve seen,” said Brian Menounos, glaciologist at the University of Northern British Columbia, while on CBC Edmonton’s Radio Active.”


BOM forecasts potentially record temperatures during Northern Territory [Australia] heatwave…

“BOM NT senior forecaster Sally Cutter said the hot spell was expected to produce maximum temperatures up to the high 40s and minimums as high as the high 20s in some areas, especially inland.”


China, Koreas and Japan had their hottest 1st half of October ever with hundreds of records (including national ones) broken.

But the record heat came to a halt with a dramatic shift to wintry conditions. Seoul dropped to just +1.3C and low level frosts were recorded in Hokkaido.”


Beijing records lowest Oct temperature in half century.

“A temperature of minus 0.2 degrees at 6.44 a.m. on Sunday was the lowest recorded in the 10 days from October 11 to 20 by a city observatory since 1969, reports xinhua news agency.”


Heavy rain, floods leave 3 dead in Vietnam.

“Three people died, four injured and one is missing after torrential rains swept through northern and central provinces of Vietnam as of 5pm yesterday, the Standing Office of the National Steering Committee for Natural Disaster Prevention and Control said.”


Thailand hit with more flooding amid heavy rains.

“Heavy rains in central and northeastern Thailand have caused new flooding, with authorities forced to release water into an already swollen river after a reservoir reached full capacity, and others facing the same possibility.”


At least 17 people have been killed in floods caused by heavy rainfall in Uttarakhand, The Times of India reported on Tuesday.

“On Monday, five people, including three labourers from Nepal, were killed after a landslide in Champawat district.”


At least 27 people killed after torrential rain in India’s Kerala state triggers landslides and floods

“Torrential rain has battered the coastal state of Kerala since Friday, causing rivers to swell and flooding roads that left vehicles submerged in muddy waters, with some houses reduced to rubble.”


Wettest October: Delhi breaks a weather record for 15th straight month.

“Data from the India Meteorological Department (IMD) showed that Delhi recorded 87.9 mm rainfall between Sunday night and Monday, the most in a day since an October 1956 day when Delhi recorded 111mm rain.”


How thawing permafrost is destroying Russian homes.

“Cities and towns across northern and northeastern Russia are suffering the consequence of climate change thawing the permafrost. Homes are collapsing, pipelines and storage facilities are under threat, and roads are increasingly in need of repair.”


“…the widespread collapse of the West Antarctic Ice Sheet is avoidable if we can keep global warming below the Paris target of 2 degrees Celsius

“[However] significant uncertainty remains in terms of the internal ice structure [of the sheet] and conditions of the bedrock and sediment below.”


Gaping hole opened up in ‘Last Ice Area’ of the Arctic, NASA images show…

“”The scary thing is this area might not be as resilient as we think it is,” Arctic scientist Kent Moore told Mashable. Moore is a professor of physics at the University of Toronto Mississauga who led the research.”


You can read the previous ‘Climate’ thread here. I’ll tomorrow with an ‘Economic’ thread.

If you found value in this content, please help me continue this work by becoming a patron of my work via Patreon. And if you are already a subscriber or have donated – thank you! It means a lot.

16th October 2021 Today’s Round-Up of Climate News

Nunavut declares emergency in Iqaluit… More than 30,000 litres of bottled water arrived in Iqaluit, Nunavut’s capital city Thursday after the government declared a state of emergency due to an evolving water crisis

“On Tuesday, the city warned residents not to drink the tap water after a fuel-like smell was detected at the water treatment plant… the water source is potentially tainted with petroleum

“Iqaluit city councillor Kyle Sheppard… says the once permanently frozen Arctic ground is melting rapidly due to climate change, causing major infrastructure problems.


““The area at the water plant that’s been identified as a potential cause of the problems we’re facing now is built underground, initially in permafrost. That permafrost is melting and all of our pipe infrastructure is now in the active layer, so it’s subject to heaving and moving in the ground that wasn’t really designed for,” he explained.

““So, our pipes are breaking off from access faults and snapping and breaking all winter.”


Burning peat and wildfires bring unseasonal smoke apocalypse to Urals and Siberia…

“Smoke from smouldering peat bogs around Yekaterinburg reached the largest city in the Urals on 11 October – and has intensified since, despite the firefighters working to extinguish the fire.”


“Sólheimajökull glacier in Mýrdalur, Iceland, has withdrawn by eleven meters from last year…

“Hvolsskóli’s students have been observing the melting process since 2010… the glacier’s border has withdrawn 408 meters since 2010.”


Pollution and disease analysis underway as more dead crabs found on Teesside beaches [UK]…

“A spokesperson for the Environment Agency said: “We are working… to investigate why hundreds of dead crabs have washed up along the shore in the Tees Estuary and neighbouring beaches.”


Missing woman in German floods found dead in Netherlands.

“The body of a woman reported missing in deadly floods that struck western Germany in July has been found in Rotterdam, likely transported by the Rhine river 300 kilometres across the border, according to German police.”


Torrential rain continues floods and traffic chaos as Athens struggles with extreme weather.

“Torrential rain flooded rivers, roads and homes across Greece, many parts only just recovering from summer wildfires, prompting hundreds of calls for help to rescue people and pump out water.”


Drought in northern Kenya pushes millions towards hunger.

“This is the second consecutive season the rains have failed in northern Kenya, a semi-arid part of the country, unlike the more fertile and greener south. The lack of rain means 2.4 million people in the region will struggle to find enough to eat by November…”


Do not use well water in cyclone-hit areas, advises Oman authority.

“The Food Safety and Quality Centre warns to avoid using well water for drinking or domestic use in the affected areas due to the possibility of contamination caused by cyclone Shaheen in the form of floods. Examining the water is necessary to ensure that it is free of contamination.”


‘Our whole life depends on water’: Climate change, pollution and dams threaten Iraq’s Marsh Arabs.

“Iraq’s 2020-2021 rainfall season was the second driest in 40 years… Another drought is predicted for 2023 as climate change, pollution and upstream damming keep Iraq trapped in a cycle of recurring water crises.”


Cherrapunji (locally known as Sohra), India, is famous for its heavy rains. At 1430m asl 30C is very rare there.

But in the past weeks 30C was already recorded 8 times and on 12 October the village rose to 32.1C its hottest temperature in history which beats the 31.1C set on 6 Sept 1969.


Max temperature touches 36.4 degrees Celsius [97.5F], Mumbai sees hottest October day on record.

“Maximum daytime temperature in the city touched a season-high on Friday, settling at 36.4 degrees Celsius at the India Meteorological Department’s monitoring station in Santacruz. This surpasses this month’s previous record of 35.8 degrees Celsius on October 7.”


15th October is a historic day in Bangladesh. With 38.2C [100.8F] Bogra destroyed the national record of the highest temperature ever recorded in October (previous 37.4C /99.3F at Jessore in 2010).

“The capital Dhaka, along with most stations, also had its October hottest day ever with 37.4C.”


Himalayan floods a sign of worse to come… Usually an arid region, Nepal’s Manang district was hit this year by never-seen wildfires and floods.

Its average annual rainfall is barely 300mm [12 inches], but it got nearly double that rain in just one week in June. The region had seen a seven-mount winter drought, and was ravaged by wildfires this spring that burnt for three months. Then came the monsoon…”


Record-high floods leave regions along China’s Yellow River ravaged.

“Rare floods ravaged areas along the middle and lower reaches of China’s Yellow River in September and October as heavy rain not seen in decades hit the region this autumn, National Climate Center said on Thursday.”


Typhoon Maring deaths at 30 [Philippines], damage to agriculture tops P1B…

“Majority of those who died were due to flashfloods in Ilocos Sur at 14, and landslides in Benguet at nine. The others were in the following provinces: Cagayan, two; Palawan, four; and Pangasinan, one.”


Deforestation threatens tree kangaroo habitat in Papua New Guinea.

“A proposed conservation area in northwestern Papua New Guinea has experienced a substantial surge in deforestation-related alerts, according to satellite data from the University of Maryland.”


Tornado hits Armidale after wild weather lashes Sydney and regional NSW…

“Emergency services received more than 120 calls for help in the northern tablelands city after cars were flipped, roofs were ripped off and power lines and trees fell, leaving thousands of homes without power.”


La Niña arrives, threatening to stoke droughts and roil markets.

“A weather-roiling La Niña appears to have emerged across the equatorial Pacific, setting the stage for worsening droughts in California and South America and greater risks for the world’s already strained energy and food supplies.”


The gigantic Itaipu hydroelectric dam straddling the Brazil-Paraguay border is feeling the heat of Brazil’s worst drought in nine decades.

““We do not expect the crisis of lack of water to be solved before 2022. We will start the year in a rather complicated situation,” Hugo Zarate, the plant’s superintendent told The Associated Press. That’s devastating for a country where hydroelectric generation accounts for about two-thirds of total installed capacity…”


Brazilian artist Mundano has used ash from the burned Amazon rainforest to create a street mural in Sao Paulo of a firefighter standing amid deforestation, fires and dead animals. “I’m using evidence of the crime,” said Mundano…”


Chile’s flowering desert under threat from climate change.

“Scientists warn that climate change, associated in South America with declining rainfall, could consign the flowering to memory. This year’s bloom “was more localized and less intense” than previous one, La Serena University’s Andrea Loayza said.”


Parts of Texas were hit hard Tuesday night into Wednesday by Pamela, the latest in a long line of tropical systems

It is “pretty unusual for Pacific tropical systems to drive moisture into Texas and beyond,” AccuWeather Senior Vice President Jon Porter said. He added that events like this have happened only a few times over the past 75 years and are often associated with serious flash flooding.”


Last month was the driest ever September in Los Angeles County. Now come the Santa Ana winds.

“After the hottest and driest summer in California history, and a September that was Los Angeles County’s driest ever, concerns are high that Santa Ana wind season could significantly worsen what has already been a disastrous fire year.”


Hundreds of properties including Brad Pitt’s beach house evacuated in California wildfire…

“The wildfire started on Monday in the Santa Ynez Mountains and has now burned its way south over 16,901 acres to the ocean by Thursday night. At least 1,731 firefighters have been battling the fire, which is now 41 per cent contained.”


Wildfire Smoke Disrupts Bird Migration in the West…

“Wildfires have increasingly coincided with the beginning of fall migration for many bird species. This greater frequency of fall wildfires is thought to be primarily the result of frequent drought conditions and climate change.”


American bumblebees have disappeared from these 8 states. Now they could face extinction.

“Maine, Rhode Island, New Hampshire, Vermont, Idaho, North Dakota, Wyoming, and Oregon each have zero or close to zero American bumblebees left…”


Queen ‘irritated’ by world leaders talking not doing on climate crisis…

“She said: “Extraordinary isn’t it. I’ve been hearing all about Cop …still don’t know who is coming. No idea. “We only know about people who are not coming … It’s really irritating when they talk, but they don’t do.””


You can read the previous ‘Climate’ thread here. I’ll be back on Monday with an ‘Economic’ thread.

If you found value in this content, please help me continue this work by becoming a patron of my work via Patreon. And if you are already a subscriber or have donated – thank you! It means a lot.

15th October 2021 Today’s Round-Up of Economic News

‘Unprecedented hunger’ lies ahead as world heats up, warns World Food Programme…

“David Beasley, director of the WFP, said: “Large swathes of the globe, from Madagascar to Honduras to Bangladesh, are in the throes of a climate crisis that is now a daily reality for millions. The climate crisis is fuelling a food crisis.””


Price pinch: global economy caught in perfect storm.

“From beef bowls in Tokyo to fried chicken in London, consumers are beginning to feel the pinch from the surge in costs washing over the global economy… Higher energy prices are also adding to inflationary pressures that, along with power outages.”


The U.S. Economy May Be Facing Another Recession, New Research Suggests…

““It seems to us that there is every likelihood that the United States entered recession at the end of 2021,” the authors write in a new research paper. “The most compelling evidence is from the Conference Board expectations data for the eight biggest states.””


‘I have never felt so hopeless’: millions in US fear utility shutoffs as debts rise…

“The gas in Diana Morgan Magda’s house was shut off in May. Now when she wants to take a bath she uses an electric kettle to heat the water. It takes an hour.”


Winter-Fuel Worries Accelerate U.S. Natural Gas Price Increase… U.S. natural gas futures climbed after winter stockpiles of the furnace and power-plant fuel expanded less than expected, heightening concerns about adequate supplies going into the peak-demand season.”


Energy crisis: UK could run out of gas during especially cold winter ahead, industry boss warns.

“Sir Jim Ratcliffe, owner of chemicals firm Ineos, said a prolonged winter ahead could mean demand for gas outweighs supply, leading to widespread shutdowns.”


The dramatic exit from the U.K. gas market of a middleman that supplies the fuel to utilities is already reverberating through the industry. Xcel Power Ltd., a small retailer to businesses, warned Thursday it’s likely to fold after the company it buys gas from — CNG Group Ltd. — said it would stop supplying the fuel. It’s the latest escalation in a crisis rocking the industry…”


U.K. Disposable Incomes Seen Dropping By the Most Since 2011.

“U.K. disposable incomes are set for their biggest drop in a decade next year as rising inflation, tax hikes and tighter monetary and fiscal policy put the squeeze on consumers, according to Credit Suisse.”


Global shortages cloud outlook for powerhouse Germany.

“…shortfalls in materials and logistic logjams have taken the wind out of Germany’s sails. Earlier this week, the International Monetary Fund downgraded its own global economic forecasts, pointing the finger at supply chain disruptions.”


Italy braced for unrest as Covid pass becomes mandatory for all workers…

“All workers will be obliged to present a coronavirus health pass before entering their workplaces, a move that is expected to leave some industries struggling with staff shortages.”


Global Energy Crisis Hits Singapore as Power Provider Goes Bust.

“A record-breaking spike in electricity prices is short-circuiting Singapore’s efforts to liberalize its power sector, in the latest sign that the global crisis is delivering a blow to both energy suppliers and their customers.”


Energy Crisis Increasingly Includes Oil

“The energy crisis keeps getting worse. Shortages of natural gas in Europe and Asia are boosting demand for oil, deepening what was already a sizable supply deficit in crude markets, according to the International Energy Agency.”


Metals Head for Record, Zinc Spikes as Energy Crisis Hits Supply.

“Base metals soared, led by zinc’s surge to its highest price since 2007 after European smelters became the latest casualties in a global energy crisis that’s knocking supply offline and heaping pressure on manufacturers.”


China’s record factory inflation poses another threat to supply chains.

“The cost of goods leaving China’s factories is surging by the highest rate on record, stoking fears about stagflation in the world’s second largest economy at a time when it is already grappling with an extreme power crunch and deepening debt woes.”


China’s economy is being hit from all sides — a property slump, energy crisis, weak consumer sentiment and soaring raw material costs — and government data Monday will show just how bad things are looking.

“Economists surveyed by Bloomberg predict a slowdown in gross domestic product growth to 5% in the third quarter from 7.9% in the previous three months…”


Evergrande crisis leaves Chinese developers shut out of global debt markets.

“International bond sales by Chinese developers have all but halted as the crisis at China Evergrande stokes fears of defaults across the country’s property sector, throttling a crucial driver of Asia’s high-yield debt market.”


China Developers Account for About Half of World’s Troubled Debt…

“Of the $139 billion of U.S. dollar-denominated bonds trading at distressed prices, 46% were issued by companies in China’s real estate sector, according to data compiled by Bloomberg on Oct. 12…”


Tens of thousands of Georgians have rallied in the capital Tbilisi to demand the release of jailed ex-president and opposition leader Mikheil Saakashvili.

“Chanting Saakashvili’s nickname “Misha!” and waving national flags, demonstrators filled the city’s Freedom Square and main thoroughfare Rustaveli Avenue on Thursday…”


Six dead as Beirut gripped by worst street violence in 13 years.

“At least six people have died in Beirut’s worst street violence in 13 years, as hundreds of armed militia men took to the streets and much of the city was forced into lockdown by heavy fighting.”


Tunisia’s new government faces hard road to rescue package.

“Tunisia’s new government said this week that balancing public finances will be a priority, but it and President Kais Saied face a hard road to convince markets and foreign donors they are ready to hash out a rescue package.”


Yemen’s humanitarian crisis growing as economy collapses: UN.

“Aid agencies are now helping nearly 13 million people across the country, already 3 million more than just a few months ago, the UN says.”


Terrorists, Cocaine, And Power: A War Within Venezuela…

“President Maduro’s authoritarian regime, under rising pressure from the near-collapse of Venezuela’s oil industry, an economic crisis, and strict U.S. sanctions, has increasingly turned to illicit enterprises as a means of generating urgently-needed income.”


The definitive guide to the supply chain crisis…

“Today, as economies across the world reboot, the system is seizing up. Workers are in short supply, energy markets in chaos, prices are surging and all those goods sit in shipping containers, stacked in their thousands at ports from the Tyne to Tokyo.”


Bitcoin could trigger financial meltdown, warns Bank of England deputy…

“Likening the growth of cryptocurrencies to the spiralling value of US sub-prime mortgages before the 2008 financial crash, the deputy governor Sir Jon Cunliffe said there was danger financial markets could be rocked in a few years by an event of similar magnitude.”


Regulators must act to protect financial system from climate risk: report.

“Federal regulators must act quickly to require banks to insulate themselves and their customers against the potentially ruinous financial effects of both climate change and the energy transition, a new report by Public Citizen and Americans for Financial Reform found.”


You can read the previous ‘Economic’ thread here. I’ll be back over the weekend with a ‘Climate’ thread.

If you found value in this content, please help me continue this work by becoming a patron of my work via Patreon. And if you are already a subscriber or have donated – thank you! It means a lot.

14th October 2021 Today’s Round-Up of Climate News

A new study out of Columbia University determined that summer sea ice in ‘the Last Ice Area’ now covers half the space it did 40 years ago. [Their projections seem crazily optimistic to me but then it’s par for the course for climate scientists to be constantly startled by events unfolding faster than anticipated.]

“The 1,200-mile region north of Greenland and the Canadian Arctic archipelago has historically been covered in ice year-round, but rising temperatures fueled by climate change are causing even this remote region to melt during the summer.”


Rural Alaska has a bridge problem as permafrost thaws and crossing river ice gets riskier with climate change…

“In Alaska, bridges face a unique and growing set of problems as the planet warms. Permafrost, the frozen ground beneath large parts of the state, is thawing with the changing climate, and that’s shifting the soil and everything on it.”


Trans-Alaska Pipeline faces increasing threats from floods. Is there a long-term solution?

“…The 4-foot-diameter pipe carries an average of 20 million gallons of crude oil a day from the Prudhoe Bay oil fields, and if floodwaters reached a buried section of pipeline at full strength, the force would buffet the pipe like waves slapping a sailboat on stormy seas.”


According to the National Weather Service, Tuesday’s average temperature of 43 degrees marked the coldest day Seattle has ever seen in the first two weeks of October

“This marks the latest in a series of extreme weather events in the Puget Sound region in 2021.”


More than 1,000 firefighters battle blaze spreading along California coast.

“A wildfire raging through southern California coastal mountains threatened ranches and rural homes and kept a major highway shut down on Wednesday, as the fire-scarred state faced a new round of dry winds that raise the risk of infernos.”


California has experienced its driest summer since 1895, highlighting the difficult summer the state faced with fighting wildfires.

“The Palmer Drought Severity Index said for the months of July, August and September the monthly average dryness was -6.8, the San Francisco Chronicle reported.”


Grim Task of Identifying Buried Remains Unearthed by Floods in Louisiana Could Take Years.

“Hurricane Ida continues to cause pain and destruction a month after hitting Louisiana, moving caskets and buried loved ones to be rediscovered and identified.”


Facing floods and fires, undocumented immigrants [in the US] have nowhere to turn for help…

“…the New York program is the first time a state or the federal government has invested in supporting undocumented immigrants after a disaster. This reality has left millions of people across the U.S. in a state of “hyper-marginalization…””


An active jet stream is slicing across the center of the country and bringing a wild clash of the seasons, with unseasonable warmth in the East and a frigid taste of winter in the West.

“Parts of the Rockies are being buried beneath feet of snow, while a renewed dose of summer spreads over the Mid-Atlantic, Southeast and New England.”


“[And very unsettled weather down the middle:] Tornadoes touch down in Oklahoma, Kansas as storms batter Midwest; one was ‘multi-vortex’…

“Multiple tornadoes touched down in Oklahoma and Kansas late Tuesday into Wednesday after days of violent weather damaged homes and businesses and knocked out power to thousands of people.”


Temperatures are hovering around record levels in the Peruvian Amazon.

“On 11 October 4 departments (Ucayali, Madre de Dios, Loreto and San Martin) recorded temperatures of 38C+ [100.4F] with a max. of 39.5C in Santa Ana:this is just 0.2C from the Peruvian national October record set 1 year ago.”


Unusual autumn warning for Scottish water supplies as Southern England sees the summer rain.

“In these topsy turvy times, when little feels as it should, southern England has had a lot of rain this year and Scotland now has water supply concerns.”


Climate change in Ireland: More heatwaves, less snow and heavier rain…

“What was “likely” just a few years ago is now “virtually certain”, to the point where UN secretary general António Guterres called the latest AR6 report “A code red for humanity”.”


Alpine glaciers are melting faster and faster…

“Glaciers are losing mass faster and faster due to climate change… 20 years of measurements show accelerated retreat – even after wet and cooler summer.”


Severe Storm “Ballos” to Hit Greece With Heavy Rain, Lightning.

Less than a week after the storm called Athena hit Greece, a new weather front code-named Ballos, is expected to worsen weather conditions on Wednesday night. The storm will produce heavy rainfall, thunder and lightning and sharp drops in temperature across the country.”


Uganda: Floods and Landslides…

“There is an urgent need to provide household kits and shelter items to the affected communities to support with immediate household needs. Water facilities have been destroyed which has possessed a risk of water-borne diseases such as cholera and typhoid.”


Another record in Botswana: Tubu at 1100m asl recorded 43.5C [110.3F] which ties the national monthly record of highest temperature, which was set at the same place just…last year.

“Intense heat will move east next days towards Zambia, Zimbabwe and Mozambique.”


Return To Coal: Kyrgyzstan Goes Back To Dirty Fuel As Drought Causes Hydroelectric Shortage.

“Kyrgyzstan is forcing homes and businesses to go back to using coal as a severe drought has reduced output at the country’s lone hydroelectric plant, which usually produces 40 percent of the country’s electricity.”


Extreme heat Wave between NE India (Cherrapunji recorded its first 30C+ / 86F in October), Nepal, Bhutan, Myanmar and Bangladesh. Dozens of monthly records are falling.

“Yesterday 37.2C at Sylhet is only 0.2C from the national October record of Bangladesh. Dew points reached deadly 30C+.”


Lightning strikes killed 2,800 in 11 years in Bangladesh.

“Lightning strikes have killed no fewer than 2,800 people in the last 11 years in Bangladesh, according to government data… There is a correlation between thunderbolts and temperature, according to a study published in 2017.”


Heavy rains damage thousands of historical sites in Shanxi, northern China.

“A total of 89 sites were ‘critically damaged’, meaning they had major structural issues; while 750 sites were ‘relatively seriously damaged’. Many of the sites date back hundreds or even thousands of years…”


Typhoon Kompasu roars past Hong Kong, leaving 1 dead and 20 injured.

“A 31-year-old man died after crashing his motorcycle in Shek O and least 20 other residents were injured during the storm. Schools, businesses and stock market shut…”


Severe Tropical Storm Kompasu has dumped tremendous amounts of rain over the northern Philippines and Taiwan.

“Although the center of the storm has been over the water, Baguio received 625.3mm [24.6 inches] in 24 hours. That’s 1.4 times the October monthly rainfall.”


Climate-fuelled drought forces Taiwan tea farmer in search of water…

A once-in-a-century drought last year followed by torrential rain this year have decimated Chien Shun-yih’s crop and left Taiwan’s tea farmers scrambling to adapt to the extreme weather changes.”


Japan Extreme Heat Wave: 174 monthly records of highest temperature fell in Japan in the past 11 days.

“The unprecedented and long heat wave is also seeing widespread tropical nights and high humidity.”


La Niña weather event now even more likely to deliver a wet and windy summer across Australia, Bom says…

“Weatherzone meteorologist Ben Domensino said in a blog post the La Niña would also typically produce more tropical cyclones during the Australian cyclone season from November to April.”


Nations nowhere close to halting ‘catastrophic’ climate change…

“Will Steffen, a climate expert at the Australian National University, said the IEA report makes it clear that the current goal of “net zero emissions” by 2050 – as many countries are committing to – is simply too little, too late.”


You can read the previous ‘Climate’ thread here. I’ll be back tomorrow with an ‘Economic’ thread.

If you found value in this content, please help me continue this work by becoming a patron of my work via Patreon. And if you are already a subscriber or have donated – thank you! It means a lot.