Doug McIntyre and David Callaway discuss the mounting financial crisis triggered by climate change, focusing on the escalating losses faced by global insurers. In the first half of the year alone, insurers worldwide reported significant losses due to climate-related events. The situation is exacerbated by reinsurers’ increasing reluctance to take on these risks, leaving primary…
Doug McIntyre and David Callaway discuss the severe financial implications of climate change and the failure of wealthy nations to support vulnerable countries. They highlight the United States’ continued pollution and reluctance to provide promised financial aid, effectively compounding the difficulties for poorer nations. U.S. Treasury Secretary Janet Yellen’s recent statement that $3 trillion per…
Last year, massive wildfires in Canada, hundreds of miles north of the East Coast, blanketed New York City in smoke, resembling Beijing’s worst pollution days. Doug McIntyre and David Callaway discuss how such events highlight the interconnectedness of climate issues, with local pollution causing severe problems far away. They emphasize that climate change doesn’t respect…
NOAA announced that the Gulf of Mexico will experience a 6,000 square mile dead zone this summer, stretching from the Mississippi Delta to south of Houston, Mexico. This dead zone severely impacts the fishing industry, devastating the livelihood of those dependent on it. The primary cause is fertilizer runoff from the Mississippi River, originating hundreds…
Warren Buffett, at 93, has significantly reduced his stake in BYD, a major Chinese electric vehicle (EV) manufacturer, from 40% to under 5%. Despite BYD’s strong potential for expansion into markets like Mexico, Africa, Southeast Asia, and South America, Buffett’s sell-off suggests caution. BYD’s affordable and appealing EVs, priced around twenty thousand dollars, offer substantial…
Doug McIntyre and David Callaway, editors of Climate Crisis 247, discuss the unpredictability of extreme weather in Ireland and other regions. McIntyre, in Connecticut, and Callaway, preparing for a golf game in Ireland, highlight the varied and severe weather conditions one might experience in just a few hours on the golf course. From hail to…
In parts of Africa, the pollution rate is rising due to the use of outdated air conditioners, which emit more harmful gases than modern, energy-efficient models. Historically, wealthier nations like the U.S. promised financial aid to help countries like Nigeria upgrade their infrastructure, including air conditioning systems. However, these promises have often fallen short. David…
Warren Buffett has significantly reduced his stake in BYD, a leading Chinese EV company, from 40% to less than 5%. Despite BYD’s potential to surpass Tesla as the largest EV manufacturer globally, Buffett’s decision is influenced by several factors. Primarily, Buffett’s investment in BYD has yielded substantial profits since he entered when the company was…
Doug McIntyre and David Callaway discuss the environmental challenges and policy solutions surrounding water pollution, using Lake Erie as a case study. Once one of the most polluted lakes, Lake Erie’s condition improved significantly after stopping industrial waste from Akron and Cleveland. However, the lake still faces issues due to agricultural runoff, causing massive algae…
Doug McIntyre and David Callaway discuss the efforts made by Paris to clean up the Seine River ahead of the Olympics, noting that while the river isn’t entirely clean, significant policy changes have been implemented. Companies and the city were restricted from dumping sewage, although there’s concern these rules might be relaxed post-Olympics. This issue…
Doug McIntyre and David Callaway discuss the significant challenge facing the Paris Olympics due to the polluted Seine River. Historically contaminated by waste for centuries, the Seine’s water quality is so poor that Olympic officials initially deemed it too dirty for events. The mayor of Paris and a national government representative attempted to demonstrate its…
Doug McIntyre and David Callaway discuss the broken promises of wealthy nations to provide financial support to developing countries for reducing their carbon footprints. Despite pledges to offer funds—sometimes as outright grants rather than loans—these promises frequently remain unfulfilled. Callaway emphasizes that financial aid needs to serve as an incentive for genuine improvement, not as…
Doug McIntyre and David Callaway discuss the growing financial implications of climate change, particularly regarding home insurance. Doug highlights how homeowners in previously insurable areas are now facing dramatically higher premiums or outright refusal from insurance companies to cover their properties. David elaborates, emphasizing that climate change is both a weather and financial issue. The…
Doug McIntyre and David Callaway discuss the risks associated with living in seemingly ideal locations. People are drawn to places like the coast of Florida, despite the threat of rising waters, or the central United States, despite tornado risks. Similarly, many who settled near wildfire-prone areas did so because these places were once considered paradises…
Doug McIntyre and David Callaway discuss the ongoing wildfire crisis, highlighting the improved efforts of Cal Fire in California. Thanks to better communication, air power, and drone technology, Cal Fire has been successful in containing many fires before they exceed an acre. However, some fires, like the park fire, have grown uncontrollably to 150,000 acres….
Doug McIntyre and David Callaway discuss the increasing insurance costs across the United States due to climate change. Initially rising in hurricane-prone areas like Florida, these costs are now surging in regions affected by tornadoes and hailstorms, such as Oklahoma. They highlight a recent study showing Oklahoma with the highest per capita insurance costs, driven…
David Callaway and Doug McIntyre discuss a recent study revealing that evictions are higher in hot cities like Houston, Phoenix, and Las Vegas due to soaring energy costs. They highlight how climate change is inflationary, driving up expenses for essentials like food and housing. The conversation notes the broader impact of rising temperatures on food…
Doug McIntyre and David Callaway discuss the phenomenon of hidden inflation, where people experience rising living costs that aren’t fully reflected in official Consumer Price Index (CPI) figures. Despite the CPI showing only a 3% increase, individuals feel economically strained due to higher spot prices affecting various aspects of their lives. This discrepancy leads to…
Doug McIntyre and David Callaway discuss the current wildfire crisis in the western United States, with 1.6 million acres burning across 85 fires, the largest in California and Oregon. The contributing factors include high winds and extremely dry ground. While some fires are started by arson, many are due to accidental human actions, such as…
Doug McIntyre and David Callaway discuss the persistent issue of urban areas struggling to address climate change due to financial constraints. Cities often lack the budget to tackle long-term climate issues, as their financial planning focuses on short-term crises. An example is New York’s congestion charge, which was not pursued due to political and short-term…
Doug McIntyre and David Callaway discuss a text notification from Con Edison, New York City’s utility company, urging customers to reduce electricity use from 2 p.m. to 10 p.m. to prevent blackouts and brownouts. This measure reflects a broader trend among utilities nationwide, highlighting the strain on electrical grids during peak times, especially amid heat…
