Early Cherry Blossoms –Climate Crisis AM Edition 3/18/24
Ocean-based shipping is a major cause of greenhouse gas emissions. Its practices are being targeted as a way to help slow global warming. According to Reuters, “The European Union, Canada, Japan and climate-vulnerable Pacific Island states are among 47 countries rallying support for a charge on the international shipping sector’s greenhouse gas emissions, documents reviewed by Reuters showed.” Several other countries, which include China and Brazil, say the decision would restrict trade. The problem is that there are few ways to regulate the industry since the action would need to be taken across a large number of jurisdictions, each of which would need to adopt a standard set of laws.
Too Many EVs –Prices Plunging
US Climate Cost –Jumps Above $97 Billion A Year
Bloomberg points out that cherry blossom trees are blooming early in places such as Washington, D.C., and Japan, where they are major tourist attractions. The reason given for this being days earlier than usual is global warming. Daisuke Sasano, a climate risk management officer at the Japan Meteorological Agency, told Bloomberg, “The fact that Tokyo recorded the earliest start date is due to global warming, compounded with urbanization,” This means that cities trap heat more than they have in the past. While the news seems trivial, it is another sign that spring temperatures have started to come earlier than in the past. This has already happened in the US this year, as temperatures in some cities have run several degrees F above what is historically typical.
One More New EV Brand
The growth of new EV brands continues at a rapid pace. According to CNN, VW will launch a new EV in the US. It will be called Scout. It will not be a standard EV product launch. “An avid fanbase in America fondly remembers Scout. Here, it was one of the pioneering SUV brands, and its original models are collectibles today.” The VW challenge is simple. EV sales in the US have slowed. Even market leader Tesla has said its white-hot sales will not repeat in 2024. Major car companies, which include Ford, are struggling to sell just a few thousand EVs a month after billion-dollar investments in their EV programs.
There is more evidence that climate change is increasing home ownership insurance rates for many Americans. According to the BBC, quoting Allstate Insurance management, “Our payments to help California residents recover from accidents and disasters have increased significantly in recent years due to higher repair costs and more frequent and severe weather,” We continue to offer coverage to most existing home insurance customers.” The observation is old news. Insurance rates have surged in many parts of America, which are prone to flooding. In some places, home insurance is not even available.
