Florida’s Crippling Home Insurance–Climate Crisis AM Edition 4/3/24
The World Bank gave Columbia a $750 million loan to combat climate change. The loan was to make the nation’s efforts more “resilient,” according to Reuters. The news service reported, ” The bank said in a statement, “The loan looks to boost development of solar and offshore wind energy and green hydrogen, as well as bolster electric urban transport and multimodal transport.” Climatecrisis247 believes that the money may not be well spent. The federal government is unstable. Crime in the nation is high. The economy has slowed considerably. The World Bank did not say how its investment would work through this maze of problems.
Big Oil? –A Major Comeback
Climate Crisis City –Future Of Miami
Home insurance levels in areas prone to violent climate change have soared. The average annual home insurance rate in Florida, at $10,996, tops all states. That rate is expected to increase by 7%. Louisiana is second at $6,354. That figure is expected to soar by 23%, according to Insurify. The study also states, “Despite recent reforms, finding private homeowners insurance is so difficult in Florida that the state-run Citizens Property Insurance Corp. is now the largest insurer in the state.” Climatecrisis247 believes this problem will worsen with no end in sight. AccuWeather expects the upcoming hurricane season to be the worst on record. Some areas of Florida have become unaffordable for middle-class residents.
Oil Moves Toward $100
The price of crude continues to rise and has recently touched $86. It began the year at $71. Several experts expect that tensions in the Middle East, a rebounding Chinese economy, and Ukraine’s drone attacks on Russian oil assets will push the price to $100. Climatecrisis247 believes that rising oil prices could begin to damage the US economy. Gas prices and energy expenses for trucking, airline, and petrochemical firms will jump. The price increase will also be a financial incentive for oil companies to continue aggressive production despite broad efforts to create alternative energy.
Climate Law Killed
The U.S. District Court for the Western District of Kentucky has blocked some key parts of The Biden Administration’s efforts to get states to regulate greenhouse gas emissions from vehicles. According to Fox News, “President Biden’s radical environmental agenda has lost touch with reality, and Kentucky families, farmers and workers are paying the price,” Republican state Attorney General Russell Coleman commented.” Climatecrisis247 believes environmental regulations continue to be a political football and that the short-term future of climate laws will be determined by who controls state and federal government after the 2024 elections.
