America’s $500 Billion Climate Crisis

By Douglas McIntyre  •  January 11, 2025
GEORGE DESIPRIS Pexels

Based on a number of sources the damage of wildfires around LA could be as high as $200 billion. And those fires are still burning. Add to the damage of Hurricanes Helene and Milton. The figure reaches $500 billion. This does not include a number of smaller climate disasters from 2024 or early 2025.

The wildfires in LA are a classic example of how wildfires start and spread. The area has had almost no rain since May. That was after flooding rains earlier in the year.A drought set in during fall, and by late last year, the ground was bone dry. It may take months to understand what set off these fires. Usually, it is downed power lines, arson, lightning, or a stray campfire of match. For the people who have died or suffered loss of property, it may not matter.

On the far side of the country, huge hurricanes were caused by water in the Gulf of Mexico and south Atlantic. This water has not been as warm in recorded history. Storms feed off the water, and Hurricane Milton and Helene formed moving up Florida’s west coast. Areas along the path were completely destroyed. The destruction moved as far north as western North Carolina. Weather related tornadoes made it as far east as the region around Palm Beach. 

Hurricane Damage

More easily forgotten is that 2024 may have been the year when the US had the largest number of tornadoes. Regions in the Midwest also had record hail. 

The longer term effects of these storms will include a drop in insurance homeowners and businesses can have in these regions. If residents decide to stay, it will be without a financial safety net.

Without the net, future storms and fires could do even more damage

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