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Economic Cost of Weather May Total $485 Billion in U.S.

By Guest PostJune 25, 2011Environmentaverage precipitation, changes in the weather, cooler than average days, drought, economic impact, economic model, Economy, geographic pattern, hurricanes, impacts of climate change, jeff lazo, national center for atmospheric research, national oceanic and atmospheric administration, national science foundation, ncar, new york, noaa, nsf, precipitation, rain, sarah ruth, stratford, summer thunderstorms, temperature, tennessee, texas, tornado outbreaks, tornadoes, u.s economy, united states, variations in temperature, weather events, weather sensitivity, weather variations

*Routine weather events can add up to huge annual economic impact*

Everything has its price, even the weather.

New research indicates that routine weather events such as rain and cooler-than-average days can add up to an annual economic impact of as much as $485 billon in the United States.

The study, led by scientists at the National Center for Atmospheric Research (NCAR), found that finance, manufacturing, agriculture and every other sector of the economy is sensitive to changes in the weather. The impacts can be felt in every state. (more…)

Study: Consumers Value Safer Food More Than Current Analyses Suggest

COLUMBUS, Ohio – Government regulators could more realistically assess the value of improving food safety if they considered the fact that consumers typically want to avoid getting sick – even if it means they have to pay a little extra for safer food, researchers say.

In the world of food regulation, cost-benefit analyses are a primary tool for assessing the societal benefits of mandating more stringent – and more expensive – processing practices. In most cases, regulators determine a dollar value associated with pursuing new rules by estimating how many illnesses and deaths the safer processing would prevent. (more…)

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Economic Cost of Weather May Total $485 Billion in U.S.

Study: Consumers Value Safer Food More Than Current Analyses Suggest